Adobe Forecasts Record Online Cyber Week Spending
Posted on October 6, 2024
Adobe has released its online shopping forecast for the 2024 holiday season. Adobe expects U.S. online sales to hit $240.8 billion this holiday shopping season for the period from Nov. 1 to Dec. 31. This would be 8.4% growth over last year.
Adobe says Cyber Week (the 5-day period including Thanksgiving, Black Friday and Cyber Monday) is expected to drive $40.6 billion in online spending, up 7.0% YoY and representing 16.9% of the overall holiday season. Black Friday spending is expected to hit $10.8 billion - an increase of 9.9% over last year.
Vivek Pandya, lead analyst, Adobe Digital Insights, says in the announcement, "The holiday shopping season has been reshaped in recent years, where consumers are making purchases earlier, driven by a stream of discounts that has allowed shoppers to manage their budgets in different ways. These discounting patterns are driving material changes in shopping behavior, with certain consumers now trading up to goods that were previously higher-priced and propelling growth for U.S. retailers"
Adobe says strong discounts of up to 30% off listed prices will help drive shoppers to "trade up" in categories such as electronics, appliances and sporting goods.
Adobe says the best prices through deals will happen before Cyber Monday but Cyber Monday will have the best electronics and apparel deals: "The deepest discounts are expected to hit during Cyber Week, the best time to shop for bargain hunters. And across several categories, the best deals are set to happen before the big Cyber Monday event. Thanksgiving Day (Nov. 28) will be the best day to shop for toys, appliances, furniture and sporting goods. On Black Friday (Nov. 29), shoppers will see the deepest discounts for TVs. The Saturday after (Nov. 30) will have the best deals for computers. And Cyber Monday (Dec. 2) will be the best day to shop for electronics and apparel—the two biggest categories in e-commerce by revenue share."
Adobe also revealed what it thinks will be the bestsellers in toys, video games and other categories.
Toy Top Sellers- Bluey Ultimate Lights and Sounds Playhouse
- Slime kits
- Fisher-Price Little People
- MGA's Miniverse
- Descendants: The Rise of Red toys
- LEGO sets
- Madden NFL 25
- NBA 2k25
- Diablo 4
- Call of Duty: Black Ops 6
- Super Mario Party Jamboree
- Valorant
- World of Warcraft: The War Within
- iPhone 16
- Google Pixel 9
- Samsung Galaxy S24 Ultra
- Bluetooth headphones
- film/digital cameras
- Oura Ring
- Kindle/E-readers
- Ninja Creami