k Friday only 0.1% of November online shopping

According to Adobe Analytics data, online shoppers spent $64.59 trillion in the first three weeks of November. This is 0.1% more than the same time last year. There were nine days that saw sales exceeding $2 billion during this period.

There is a silver lining. Adobe claims that consumers are in the festive shopping season with a positive outlook, as spending has not dropped from the pandemic-boosted levels of 2021. The report stated that Ecommerce had been resilient so far according to Adobe Analytics. This is a strong start for the season.

Expected increase in total sales. According to the company, total online sales for November/December will reach $209.7 billion. This is 2.5% more than 2021, which saw sales rise 8.6%. It’s far less than 2020, where they were up 32.2%.

Cyber Week. Cyber Week, which spans Thanksgiving through Cyber Monday, is expected to generate $34.8 billion in online shopping. This 2.8% increase over last year. This would represent 16.3% of November-December spend.

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Cyber Monday. Cyber Monday, the day that we all return to work, is expected to again be the biggest day for online shopping in 2013, generating $11.2 billion in sales. It would represent a 5.1% increase over last year. Cyber Monday saw a drop of 1.4% in spending by 2021 consumers, who spent $10.7billion . The total Cyber Week spending fell 1.4% to $33.9B.

Black Friday is less significant. Online shoppers are less concerned about Black Friday because holiday shopping and sales are spread over two months. It is expected that it will see $9 billion online sales, an increase of 1% over last year. Thanksgiving Day is predicted to drop 1% at $5.1 billion.

The analysis is based on more than a trillion visits made to U.S. retail websites, with 100 million SKUs and 18 product types. Adobe will continue to update its Holiday Shopping Trends report.

Why we care. Our economy is built on ever-growing consumer demand. This is the peak season for consumer demand, accounting for up to 30% of an individual retailer’s annual sales. People should spend less if there is high inflation. Low unemployment, even in the face of tech layoffs, may allow people to spend more. We won’t be able to see how it plays out until all receipts have been accumulated.

The post November Online Spending Up Only 0.1% Going into Black Friday appeared originally on MarTech.