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Online Sales To Hit New Heights This Holiday Season: Adobe Analytics

Adobe is expecting record online sales of $207 billion for the shopping season between Nov. 1 and Dec. 31.

With Black Friday just days away, Adobe is expecting record online sales of $207 billion for the shopping season between Nov. 1 and Dec. 31.

Buyers have already spent $72.2 billion online this shopping period, up 19.8% from last year. Adobe further projects that consumers will spend between $5.1 billion and $5.9 billion on Thanksgiving Day and $11.3 billion on Cyber Monday, both new records.

With Thanksgiving Weekend giving a major boost, total spending is expected to rise 10% year-over-year.

Amid inventory shortages, toys, video games and books are some of the the biggest drivers of spending. Out-of-stock messages for popular items are up 227% since pre-pandemic January 2020.

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Due to consistent shortages, online discounts are projected to be smaller this year. Home appliances are projected to see the most stark difference of an average -8.4% discount compared to -17.2% last year. Sporting goods will also be discounted by only -5.9% compared to -13% last year.

With inflation also rising 1.9% in October, buyers are expected to spend 9% more during Cyber Week. 

Still, fear of further price hikes may be pushing buyers to take advantage of the upcoming period to try to score some deals. Curbside pickup is up 92% compared to last year while buy-now-pay-later orders are up 466% from 2019.

"We’re on our way to a massive, record-breaking $207 billion holiday shopping season, and Thanksgiving weekend will continue to play a major role, especially online, as many physical stores have decided to close on Thursday," Taylor Schreiner, director of Adobe Digital Insights, said in a statement. 

"As consumers are navigating a 'one-two punch' of inflation and supply chain concerns, they’ve already spent almost 20% more year-over year."