Consumer Behavior

Online holiday season to hit $221.8B, Cyber Monday to top $12B

Photo: Adobe Stock

October 12, 2023

The online holiday shopping season will be robust, according to Adobe, with a 4.8% growth in e-commerce, hitting $221.8 billion compared to last year.

The predictions, from Adobe's annual forecast for the holiday shopping season, also include that the Buy Now Pay Later option will drive a record $17 billion in online sales, a 16.9% spike compared to 2022, according to a press release.

Additional findings include:

• Discounts expected to hit record highs this season, peaking at 35% off listed price for toys, 30% for electronics and 25% for apparel.
• Cyber Week is expected to drive $37.2 billion in online spending, up 5.4% year over year and representing 16.8% of the holiday season.
• Black Friday online sales are set to grow by 5.7% year over year to $9.6 billion, with Thanksgiving growing 5.5% year over year to $5.6 billion.
• Mobile shopping overtakes desktop for the first time: Adobe anticipates over half (51.2%) of online spending will take place on mobile devices this holiday season, a milestone reflecting improved small screen shopping experiences. Mobile spending is set to hit a record $113 billion, up 13.7% year over year, with usage peaking on days when consumers are likely with friends and family, such as Thanksgiving and Christmas.