Home » Economy » Online holiday shopping sales to reach $209.7B this year, Adobe projects
Online holiday shopping sales to reach $209.7B this year, Adobe projects
Parents brace for the holidays as inflation hits the toy aisle hard
Toy Insider editor-in-chief Marissa Silva discusses the anticipated impact inflation will have on the toy market this holiday season on ‘Mornings with Maria.’
Adobe projected Monday that online shopping sales are expected to reach $209.7 billion this holiday season amid consumers grappling with scorching-hot inflation and rising borrowing costs.
According to Adobe, the projected total for online shopping sales during the 2022 holiday season spanning Nov. 1 to Dec. 31 would constitute a 2.5% increase from 2021, when shoppers spent $204.5 billion online. Nearly half of the projected $209.7 billion in online spending is expected to come from electronics ($49.8 billion), apparel ($40.7 billion) and groceries ($13.3 billion).
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However, the upcoming holiday season "will look different this year, with early discounting in October pulling up spend that would have occurred around Cyber Week," Adobe's vice president of growth marketing and insights, Patrick Brown, said in a statement.