Online shopping increased steadily this holiday season as record-setting discounts helped offset the pain from high inflation, according to a new report
Consumers spent a record $211.7 billion online shopping between November 1 and December 31, according to Adobe Analytics. That marks a 3.5% increase from the same period of 2021. The figures are not adjusted for inflation. However, Adobe said uptick was driven by growing demand, not just higher prices. That’s because Adobe’s research finds that online prices have been falling year-over-year since September.
Shoppers also found significant discounts in computers , apparel , televisions and appliances . “At a time when consumers were dealing with elevated prices in areas such as food, gas, and rent, holiday discounts were strong enough to sustain discretionary spending through the entire season,” Vivek Pandya, lead analyst at Adobe Digital Insights, said in the report. Adobe said demand spiked for toys, video games and apparel, with consumers scooping up watches, baby toys and outdoor grills.
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