After Slow Saturday, Online Sales Start Holiday With $2.3B in Receipts
Year-on-year online spending growth slowed on Halloween to 11%, totaling $1.7 billion, vs. 32% growth on average the week before, emailed Adobe Analytics Monday. E-commerce picked up Sunday with 34% growth to $2.3 billion on what Adobe records as the…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
first day of the U.S. holiday sales season. The analytics firm predicts online sales of $16.3 billion during election week, through Saturday, with a slowing of 11% and a drop of $300 million Wednesday compared with the full week. Online sales dropped off 14% the day after the 2016 election and 6% after the 2018 midterm election, it said. Some 63% of retailers believe consumers will be more confident in spending after the election; 26% of consumers said the election outcome will affect their holiday spending. Adobe predicts U.S. online holiday sales will total a record $189 billion (see 2010280026), a 33% year-on-year increase. If consumers receive another round of stimulus checks, or physical stores need to shut down in large parts of the country, consumers are expected to spend an additional $11 billion online, surpassing $200 billion.