Online Shopping Forecast To Reach $83 Billion This Holiday Season
Online sales are expected to reach a record $83 billion this holiday season, an 11-percent uptick from last year. Adobe Digital Index’s 2015 Holiday Shopping Prediction forecasts that Cyber Monday, November 30 this year, will hit $3 billion for the first time, a 12-percent increase. Furthermore, while Black Friday’s online shopping share is predicted to grow 15 percent to $2.7 billion, consumers will be cracking open their computers on Thanksgiving itself, spending $1.6 billion, an 18-percent increase from 2014.
For the first time, mobile will account for most holiday browsing on Thanksgiving. Adobe predicts that on November 26, 51 percent of browsing will be done via mobile and purchases from mobile devices will account for 29 percent of purchases. The company notes that mobile allows shoppers to take advantage of deals without missing out on holiday festivities. Mobile is also expected to surge on Christmas Day as well, accounting for 52 percent of visits and 30 percent of sales.
Adobe’s data also suggests that holiday shoppers will be after the same items, with 76 percent of online purchases going to one percent of SKUs. Compared to the rest of the year, 65 percent of online spending goes to the same one percent of products. Most of these products are electronic items (60 percent) and gift cards (10 percent).
Click here for more on Adobe’s holiday predictions.