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Online US Jewelry Sales Surge over Holidays
Jan 12, 2022 10:28 AM
By Rapaport News
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RAPAPORT... E-commerce spending in the US topped $200 billion for the first time during the holiday period, with jewelry boasting a strong performance, according to Adobe Analytics.
Revenues for the category were 2.2 times higher in November and December than pre-season levels, Adobe said Wednesday.
Total online spending soared 8.6% year on year to $204.5 billion. That figure was slightly shy of the 10% increase to $207 billion Adobe forecast in October. The lower figure is due to shoppers getting an earlier start to the season, spreading out spending rather than making large purchases on big days such as Black Friday and Cyber Monday, Adobe noted.
“This holiday shopping season was the first time where big promotional moments like Cyber Monday and Black Friday took on less of the spotlight,” said Taylor Schreiner, senior director for Adobe Digital Insights. “Like we saw during the Covid-19 pandemic, e-commerce has become a ubiquitous daily activity and a flexible way for shoppers to navigate product availability and higher prices.”
Consumers shelled out more than $3 billion for a record 38 days during the period, compared to 25 days a year ago. Sales over the weeks before Thanksgiving, from November 1 to 24, grew 19% year on year, while total online proceeds for the five-day Cyber Week period slipped 1.4% Between November 30 and December 31, sales were up 5.6%, Adobe reported.
Sales were also hampered by supply-chain disruptions. During the holiday season, consumers saw over six billion out-of-stock messages online, 10% higher than the previous year and 253% more than in 2019. The challenges also led to weaker discounts across major categories, down between 8% and 21% from 2020, Adobe explained.
Other than jewelry, top categories included toys, video games, gift cards, books and electronics.
Image: A woman purchase holiday gifts online. (Shutterstock)
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Tags:
Adobe, Adobe Analytics, Adobe Digital Insights, black friday, COVID-19, cyber monday, holidays, Jewelry, Jewelry sales, Rapaport News, Taylor Schreiner
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