Adobe Analytics predicts that online sales in the U.S. holiday season will increase by 6.7%, driven by discounts and promotions attracting consumers.

Reuters, September 28 - Adobe Analytics predicted on Monday that, with promotional campaigns attracting bargain-seeking consumers, U.S. online sales during this year's holiday season are expected to grow by 6.7%, a growth rate roughly the same as last year.

The rising cost of living is making consumers more selective in their shopping, placing greater emphasis on value for money. Retailers including Walmart (link) WMT.O, Kohl’s (link) KSS.N and American Eagle (link) AEO.N have already expressed concerns over consumers' spending power ahead of this crucial holiday shopping period driving year-end sales.

• Adobe Analytics predicts online sales from November to December will rise from $257.8 billion last year to $275.1 billion

• “Cyber Monday” discounts are expected to reach a peak of 30%, with electronics and computers seeing the largest price drops; “Black Friday” is likely to offer the best discounts on TVs, toys, apparel, home appliances, and furniture

• Spending on “Cyber Monday” is expected to reach $15 billion, making it the highest-spending day of the holiday season—after growing 7.1% last year, this year is expected to see a 6.2% increase.

• “Black Friday” online sales are anticipated to increase by 9.2% to $12.9 billion, while last year's growth was 9.1%; Thanksgiving online sales are expected to rise 8.5%, up from 5.3% a year ago

• Adobe’s predictions are based on 1 trillion visits to U.S. retail websites, 100 million SKUs, and 18 product categories

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