{"id":8882,"date":"2024-10-01T18:52:17","date_gmt":"2024-10-01T18:52:17","guid":{"rendered":"https:\/\/tup.kxe.temporary.site\/2024-online-holiday-spending-set-for-record-year-with-240-billion-in-sales\/"},"modified":"2024-10-01T18:52:17","modified_gmt":"2024-10-01T18:52:17","slug":"2024-online-holiday-spending-set-for-record-year-with-240-billion-in-sales","status":"publish","type":"post","link":"https:\/\/okdesign.ca\/fr\/2024-online-holiday-spending-set-for-record-year-with-240-billion-in-sales\/","title":{"rendered":"2024 online holiday spending set for record year with $240 billion in sales"},"content":{"rendered":"


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U.S. online holiday shoppers are expected to spend $240.8 billion in November and December this year, according to a forecast by Adobe. This represents a 8.4% increase over last year\u2019s holiday season, significantly higher than last year\u2019s 4.9% year-over-year growth<\/a>.<\/p>\n

Why we care.<\/strong> This is good news for retailers with a solid digital marketing strategy. In recent years, holiday spending has shifted to early sales events like October\u2019s Amazon Prime Big Deal Days \u2014 this year, running October 8 and 9. Also, a segment of consumers spread their gift-buying throughout the entire year. Understanding where their customers fit in these trends will help a business make the most out of the holiday push.<\/p>\n

Mobile shopping.<\/strong> The anticipated record-breaking spending will also lift mobile shopping into uncharted territory. Mobile purchases are expected to reach $128.1 billion this year, up 12.8% YoY. This means mobile will have a 53.2% share of online shopping versus desktops and laptops.<\/p>\n

Cyber Week.<\/strong> Cyber Week, the five days from Thanksgiving to Cyber Monday, is set to drive $40.6 billion in U.S. sales, according to Adobe. This is a 7% increase over 2023.<\/p>\n

\u201cThe holiday shopping season has been reshaped in recent years, where consumers are making purchases earlier, driven by a stream of discounts that has allowed shoppers to manage their budgets in different ways,\u201d said Vivek Pandya, lead analyst, Adobe Digital Insights, in a release.\u00a0<\/p>\n

Expensive goods.<\/strong> In analyzing consumer patterns over the last five years, Adobe found sales of the cheapest goods increased 46%, while sales of the most expensive goods declined 47%. (Adobe divided goods into four price tiers.)<\/p>\n

This year, Adobe expects the trend to reverse. Sales of the most expensive goods are expected to increase by 19% this holiday season, compared to pre-holiday sales. This is because of price discounts, not because shoppers are feeling wealthier.<\/p>\n

\u201cThese discounting patterns are driving material changes in shopping behavior, with certain consumers now trading up to goods that were previously higher-priced and propelling growth for U.S. retailers,\u201d said Pandya.<\/p>\n

Last-minute vs. planning ahead for holidays.<\/strong> Higher-income customers are most likely to spend for holidays in the two months preceding a holiday, according to Klaviyo\u2019s survey of over 8,000 consumers globally. Consumers with incomes under $100,000 are more likely than other brackets to shop for holidays last minute, but are also more likely to do holiday shopping throughout the year.<\/p>\n

Here\u2019s the full breakdown of when consumers spend by income level:<\/p>\n

\"Klaviyo\"Klaviyo
Image: Klaviyo\u2019s 2024 Consumer Spending Report.<\/em><\/figcaption><\/figure>\n

Plans to spend more.<\/strong> Eight in 10 consumers said they planned to spend as much or more than last year. Nineteen percent of consumers said they\u2019d spend more, and 61% said they\u2019d spend the same. Only 20% said they\u2019d spend less.<\/p>\n

Less than half (48%) of consumers said inflation affects their current spending decisions.<\/p>\n

Top factors.<\/strong> Pricing was the top factor in holiday spending. Here is how other considerations ranked in the Klaviyo survey.<\/p>\n

\"Klaviyo\"Klaviyo
Image: Klaviyo\u2019s 2024 Consumer Spending Report.<\/em><\/figcaption><\/figure>\n

Shopping by generation.<\/strong> The same percentage (34%) of Gen Z and Baby Boomer shoppers plan to shop online and in-store. The differences between generations lie in the disparities among the other two-thirds.<\/p>\n

Over half (53%) of Gen Z will do most or all of their shopping online, while only 25% of Boomers will. Here\u2019s how shopping behaviors break down by generations:<\/p>\n

\"Klaviyo\"Klaviyo
Image: Klaviyo\u2019s 2024 Consumer Spending Report.<\/em><\/figcaption><\/figure>\n

Dig deeper: Top ecommerce trends from record-breaking Amazon Prime Day 2024<\/a><\/em><\/strong><\/p>\n

Klaviyo\u2019s 2024 Consumer Spending Report can be downloaded here<\/a> (registration required).<\/p>\n

<\/p>\n

<\/p>\n<\/div>\n


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U.S. online holiday shoppers are expected to spend $240.8 billion in November and December this year, according to a forecast by Adobe. This represents a 8.4% increase over last year\u2019s holiday season, significantly higher than last year\u2019s 4.9% year-over-year growth. Why we care. This is good news for retailers with a solid digital marketing strategy. 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