US holiday online sales to grow 6.7% as discounts attract shoppers, Adobe Analytics forecasts
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Sept 28 : US online sales will likely grow 6.7 per cent this holiday season, nearly the same pace as last year, as promotions attract deal-seeking shoppers, Adobe Analytics forecast on Monday.
Higher household costs are turning shoppers more selective and value-seeking. Retailers, including Walmart, Kohl's and American Eagle, have raised concerns on consumers' spending capacity ahead of the key shopping period that drives end-of-year sales.
• Online November-December sales to grow to $275.1 billion from $257.8 billion a year earlier, Adobe Analytics forecast
• Discounts are expected to peak at 30 per cent on Cyber Monday, with the deepest markdowns for electronics and computers; Black Friday is likely to offer the best deals on TVs, toys, apparel, appliances and furniture
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• Cyber Monday likely to draw in the biggest spending at $15 billion — a 6.2 per cent increase after last year's 7.1 per cent
• Black Friday online sales seen rising 9.2 per cent to $12.9 billion, after last year's 9.1 per cent jump; Forecast for Thanksgiving online sales rise is 8.5 per cent, up from 5.3 per cent a year ago
• Adobe’s forecast is based on over 1 trillion visits to US retail sites, 100 million SKUs, and 18 product categories
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