Online spending rose 8.7% during the holiday season from last year, according to data from Adobe Analytics, as deals and the use of AI-powered chatbots helped inspire purchases.
Sales on retailers’ websites and apps totaled $241.4 billion from Nov. 1 to Dec. 31, according to Adobe. The company’s analysis includes more than 1 trillion visits to U.S. retail sites, 100 million unique items and 18 different product categories.
More demand, not higher prices, drove higher online spending, according to Adobe. Adobe’s Digital Price Index found e-commerce prices have fallen every month for 27 months. The company’s figures are not adjusted for inflation, but if they were revised, overall consumer spending would be higher.
The e-commerce results are a promising sign for the retail industry, which has yet to report company-specific sales. Walmart, Target, Macy’s and others will start to post their fiscal fourth-quarter results, including their sales over the key shopping season, in late February.
Other early reads on the holiday season …