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Jewelry in Low Supply Online for Holidays – Adobe
Nov 14, 2021 5:55 AM
By Leah Meirovich
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RAPAPORT... US shoppers received more than two billion out-of-stock messages while searching for holiday gifts online in October, with many of those coming from the jewelry sector, according to Adobe.
Supply-chain constraints have disrupted merchandise availability amid a growth in e-commerce demand, Adobe said last week. The number of out-of-stock messages rose 250% compared to January 2020 and 325% versus October 2019. Of the 18 categories Adobe tracks, electronics had the highest unavailability levels, followed by jewelry, apparel, home and garden, and pet products.
The shortage in the jewelry segment is likely caused by consumers’ preference for buying pieces in person, the data analytics group explained.
“Online shopping penetration for the jewelry category tends to be low compared to other popular categories such as electronics, where consumers are more comfortable buying a larger share of the goods online,” Vivek Pandya, senior digital insights manager at Adobe, told Rapaport News. “So when you have heightened seasonal demand, combined with smaller and more limited jewelry inventory that is typically set aside for online channels, it can result in more out-of-stock notifications.”
Total e-commerce sales for October grew 8% year on year to $72.4 billion as shoppers began purchasing earlier than usual this holiday season, the data showed. Consumers have spent a whopping $680 billion online since the start of the year, up 9% over the previous year and 57% from 2019.
Retailers are also offering slimmer price discounts than in previous years, Adobe noted. Discount levels for electronics are at 8.7%, compared to 13.2% a year ago, while sporting goods have fallen to 2.8%, versus 11.2% last year. Tools and home improvement items are seeing no discounts at all, with prices up 1.2%.
“Consumers are beginning to understand the real impact of the supply-chain challenges,” said Taylor Schreiner, director of Adobe Digital Insights. “Some have begun to adjust their holiday strategy accordingly. For those who have not yet started their holiday shopping, they will need to be prepared to be flexible.”
Image: A woman shopping for holiday gifts online. (Shutterstock)
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Tags:
Adobe, Adobe Digital Insights, holiday sales, Jewelry, Leah Meirovich, Taylor Schreiner, Vivek Pandya
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