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Shoppers spent a record $211.7 billion online over the holiday
season, which typically starts in November and ends in December,
compared with an earlier forecast of $209.7 billion, the report
showed on Thursday.
While U.S. online holiday sales rose, it grew at the slowest
pace as consumers felt the brunt of rising prices.
"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," said Vivek Pandya, lead analyst, Adobe Digital
Insights.
Companies ranging from Amazon.com Inc, Target Corp, Walmart Inc
to Best Buy Co Inc offered early discounts to spur demand and
get rid of excess stock.
Adobe Analytics, which measures e-commerce by tracking
transactions at websites, has access to data covering purchases
at 85% of the top 100 internet retailers in the United States.
Majority of the discounts were for toys, where discounts peaked
at 34% off listed price versus 19% last year, as well as
electronics that saw discounts as high as 25% compared with 8%
last year, according to the report.
A big chunk of the holiday sales came during the Cyber Week -
the five days between Thanksgiving and Cyber Monday - where
consumers spent a total of $35.3 billion online, the report
said.
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by
Shinjini Ganguli)
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