Key facts
- US online sales are forecast to grow 6.7% this holiday season, reaching $275.1 billion.
- Discounts are expected to peak at 30% on Cyber Monday.
- Cyber Monday online sales are projected to reach $15 billion, a 6.2% increase.
- Black Friday online sales are expected to rise 9.2% to $12.9 billion.
- Thanksgiving online sales are forecast to increase 8.5%.
US online sales are expected to grow 6.7% during the upcoming holiday season, a pace similar to last year, as retailers anticipate promotions will draw in value-seeking shoppers, according to a forecast by Adobe Analytics released on Monday.
Despite higher household costs, consumers are becoming more selective, prompting retailers like Walmart, Kohl's, and American Eagle to express concerns about spending capacity ahead of the crucial year-end shopping period.
Adobe Analytics bases its forecast on over a trillion visits to US retail websites, 100 million stock-keeping units (SKUs), and data from 18 product categories. The firm anticipates discounts to reach their highest point of 30% on Cyber Monday, with the deepest markdowns expected for electronics and computers. Black Friday is predicted to offer the best deals on TVs, toys, apparel, appliances, and furniture.
Cyber Monday is projected to be the biggest spending day, with an estimated $15 billion in online sales, representing a 6.2% increase from the previous year. Black Friday online sales are forecast to climb 9.2% to $12.9 billion, following a 9.1% jump last year. Thanksgiving Day online sales are also expected to see an 8.5% rise, up from 5.3% a year ago.