Online Holiday Sales Reach All-Time Heights
With more than two weeks to go till the conclusion of the holiday shopping blitz, 2018 is already setting all-time online sales records.
A record $80.3 billion was spent online from November 1 through December 6, an increase of 18.6%, according to the most recent analysis from Adobe Analytics. The massive year-over-year gains make it the biggest online shopping period of all time in the U.S., beating last year’s record by close to $13 billion.
“Retailers are reaping the rewards of their investments in mobile and have seen unprecedented success in converting mobile traffic to sales,” said Taylor Schreiner, director, Adobe Digital Insights. “Holiday shoppers have relied heavily on their mobile devices, resulting in an unprecedented 55% percent year-over-year increase in sales from smartphones alone. So far this season, we see $8.4 billion more dollars coming from smartphones versus last year, compared to $3.8 billion more dollars coming from desktop computers compared to last year.”
In addition to the impressive mobile growth, shoppers are turning to buy online, pickup in-store this holiday season to streamline their path to purchase. Use of the flexible fulfillment option has increased a massive 46% year-over-year according to Adobe.
Interestingly, one fifth of U.S. shoppers plan to do more than three quarters of their online holiday shopping at big online retailers like Amazon and eBay, up 25% over last year, according to Adobe’s survey of more than 1,000 US consumers.
Adobe forecasts that the holiday season (November 1 to December 31) will see at least $124.1 billion in total U.S. online retail sales. Adobe’s next formal update on the holiday numbers will be issued on December 20.