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US Online Holiday Sales to Jump 15%

Nov 4, 2018 10:55 AM   By Rapaport News
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 US consumers will spend $124.1 billion online this holiday season, with Cyber Monday set to be the biggest day of the year for e-commerce, according to Adobe Analytics Data.

E-commerce sales between November 1 and December 31 will rise 15% over the same period a year ago, while shopping in brick-and-mortar stores will increase 2.7%, Adobe predicted. Cyber Monday (November 26) will be the largest and fastest-growing online-shopping day of 2018, with revenues climbing 18% to $7.7 billion, Adobe predicted. The three hours between 7 p.m. and 10 p.m. PST alone will drive more revenue than would an average full day this year. Sales on Thanksgiving Day (November 22) will jump 17% to $3.3 billion, the data provider estimated.

Retailers with both e-commerce platforms and physical stores will have a 28% higher rate of converting website visits to actual sales in comparison to those that only have a digital presence, the report said. An Adobe survey of 1,000 US consumers found that 47% expected to look at a product in a physical store before buying it online later, while 58% of millennials will shop that way.

“As online shopping surges with another record-breaking holiday season, the retailers with compelling websites coupled with physical store locations will have the advantage,” said John Copeland, head of marketing and customer insights at Adobe. “Many shoppers want to interact with retailers’ products and the brand in-store, and the ability to pick up online orders in-store within a matter of hours can’t be underestimated.”

While Black Friday (November 23) will be the main day for discounts on electronics, jewelers are more likely to offer deals on the Sunday before Cyber Monday, Adobe noted.

Image: Holiday gifts. (Pexels)
Tags: Adobe Analytics Data, black friday, cyber monday, John Copeland, Rapaport News
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