Adobe anticipates 'record' mobile and Cyber Monday sales this US shopping season

Adobe has said that it is expecting US online sales to reach 240.8 billion dollars over the upcoming holiday shopping season, spanning November 1 and December 31, which would represent a 8.4 percent growth year-over-year.

Shopping on mobile devices, meanwhile, is anticipated to hit a new milestone, contributing a record 128.1 billion dollars and growing 12.8 percent YoY, thus potentially representing a 53.2 percent share of online spending.

The figures come as part of its online shopping forecast for the 2024 holiday season, which collates information based on Adobe Analytics data.

In it, the tech company suggested that Cyber Monday would continue to be the season’s and year’s biggest shopping day, with it forecasted to see a record 13.2 billion dollars in spend, at an increase of 6.1 percent YoY.

This contrasts the anticipated 10.8 billion dollars in Black Friday sales and 6.1 billion dollars in Thanksgiving Day sales, both of which are expected to outpace Cyber Monday in terms of growth.

In the report, lead analyst at Adobe Digital Insights, Vivek Pandya, said: “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 behaviour, with certain consumers now trading up to goods that were previously higher-priced and propelling growth for US retailers.”