Adobe: Cyber Monday's sales growth will "cool down" this year
- cliffordwoods1987
- Nov 30, 2021
- 2 min read
According to the Digital Economy Index compiled by the software company Adobe, US consumers are expected to spend between $10.2 - $11.3 billion on Cyber Monday shopping day. making this day once again the biggest online shopping day of the year.
However, spending on this shopping holiday could still fall from $ 10.8 billion in 2020 as Americans spread their shopping activities to enjoy discounts as early as October of this year.
This year is also the first time that discounts on Cyber Monday are expected to be weaker than a year ago. The main reason for this is supply chain bottlenecks that make it difficult for retailers to get goods to stores.
Even so, Cyber Monday is still the best day of the year to buy a television set with an average discount of 16% (down from 19% last year).
Other categories also have lower discounts. For example, this year's clothing group has an average discount of 15%, compared to 20% last year. Computers are discounted at 14%, just half of 2020's 28%.
Before Cyber Monday, both major online shopping holidays, Black Friday (November 26) and Thanksgiving Day (November 25 this year), both recorded sales lower than Adobe's forecast. On Black Friday, online sales hit just $8.9 billion, down from $9 billion in 2020. On Thanksgiving Day, online sales hit $5.1 billion — almost. unchanged from the same period last year.
Adobe says it's the first time it's seen spending decline on big shopping days, which has posted decent growth since Adobe started reporting on e-commerce activity on these days. since 2012.
According to the Mastercard SpendingPulse report on shopping across all forms of payment, online shopping still accounts for a huge share and sales are estimated to have grown 7% for the week ending Sunday. 11/28. However, the increase was quite modest compared to 46% recorded in the same period a year ago.
For the overall holiday shopping season, Adobe estimates online sales will grow 10% year-over-year, also down from the 33% increase in 2020.
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