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Online holiday spending reaches record $211B, Adobe says
Holiday shopping to make a ‘good season’ for retailers: MasterCard senior advisor
MasterCard senior advisor Steve Sadove argues low inventory and high consumer demand makes it a seller’s market for retail stores.
Shoppers set new e-commerce record this holiday season, spending more than $211 billion, according to the latest figures from Adobe Analytics.
Online spending throughout the holiday shopping season, which spans from Nov. 1 to Dec. 31, grew 3.5% year over year, according to the data.
Cyber Week, which is the five-day span between Thanksgiving and Cyber Monday, was considered a key contributor, generating $35.3 billion in online spending alone. This equated to a 4% increase on an annual basis, according to Adobe.
HOLIDAY SPENDING INCREASED IN 2022 AMID HIGH INFLATION