Adobe Analytics just released a pretty fantastic holiday season forecast. For one, they’re expecting a huge increase in e-commerce during this year’s U.S. holiday season, estimating total online sales at $253.4 billion. This figure marks a 5.3% increase from last year. The look-ahead underscores that pace of change in technology and consumer behavior is moving quickly. Specifically, this public notice addresses the growing use of AI services in consumer shopping searches.
Today’s analysis reveals that Cyber Monday is on track to set new records this year. With online spending projected to reach $14.2 billion, that’s a 6.3% rise from last year. This week, the Buy Now Pay Later (BNPL) segment is poised to hit an incredible tipping point. As for FY 2024, projected spending will reach new heights at $1.04 billion, a 5% increase over last year. Black Friday is on track for record-breaking spending this year! Experts are expecting over $11.7 billion in online transactions this year, an 8.3% increase from last year.
On Thanksgiving Day alone, consumers are predicted to drop a mind-boggling $6.4 billion online. That’s a 4.9% jump from last year! These figures highlight the overall trend toward e-commerce, which has been deepened by the added convenience of shopping on a smartphone. Last year, mobile devices led to 54.5% of all online purchases through the holiday season. This year, for the first time, experts predict that number to be a record 56.1% of all online spending.
A survey conducted by Adobe Analytics revealed that 53% of U.S. consumers are likely to utilize AI services for research prior to making purchases. This trend indicates that shoppers are growing increasingly proficient with technology. Retailers need to use AI tools wisely to personalize and enhance the customer experience.
Sarah Perez, a seasoned reporter for TechCrunch since August 2011, has been providing insights into technology and its implications across various sectors. She has more than three years experience working for ReadWriteWeb. This background provides her with a unique understanding and experience with the tech sector. Sarah is available on email at sarahp@techcrunch.com or encrypted messaging app Signal at sarahperez.01.
Top 100 online retailers in the U.S. have heavily adopted software by Adobe Analytics. In this usage we see the power of its predictive modeling turning to understanding consumer behavior and predicting future market trends. Ecommerce is probably changing faster than any other trend. Retailers who take advantage of the insights that Adobe Analytics can provide will be best positioned to succeed during this highly competitive retail season.
