Retail

Adobe: Online Sales To Soar 14 Pct. In 2019 Holiday Season

Adobe: Online Sales To Soar 14 Pct. In 2019 Holiday Season

In releasing predictions for the holiday online shopping season, Adobe said total online spending will increase by 14.1 percent, which is a total of $143.7 billion, according to a release.

Adobe used Adobe Sensei, machine learning and Adobe’s artificial intelligence (AI) technology to make the predictions.

Cyber Monday is expected to set a new benchmark as well, as the largest-growing online shopping day of the year. It’s expected to see $9.4 billion in sales, which is an increase of 18.9 percent year over year. The hours between 7 p.m. and 11 p.m. could bring in as much as $3 billion in revenue.

Sales on Thanksgiving Day are expected to go up by 19.5 percent, with a sales generation of $4.4 billion. Adobe predicts that out of every five dollars spent, one of those will be spent between Thanksgiving and Cyber Monday for a total of $29 billion, which equals about 20 percent of total online revenue.

There are six fewer shopping than usual this holiday season, which means many retailers are starting sales earlier than they usually would.

“The compressed shopping cycle will see retailers launching offers far earlier than ever before,” said John Copeland, head of marketing and customer insights at Adobe. “With fewer days to spend, Adobe Analytics predicts that BOPIS (buy online, pick up in-store) will be more popular than ever before, with revenue from this delivery method doubling in the week before Christmas as shoppers rush to complete their gift lists.”

The Nintendo Switch Lite, Blume Dolls, Kindi Kids, SEGA Genesis Mini and others are expected to drive sales. Video games like Death Stranding and Jedi Fallen Order are expected to sell generously.

Black Friday is the best day to pick up deals on appliances and sporting goods, Adobe said. The first day of December is the best time to shop for toys and computers, and Cyber Monday is ideal for TV and furniture discounts.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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