Cyber Monday expected to lead with $15.1 billion in single-day sales
Adobe’s analytics division on Monday projected $275.1 billion in U.S. online sales between Nov. 1 and Dec. 31, up 6.7% from the same period last year. The forecast assumes that consumers will continue to shop earlier in the season.
Cyber Monday is expected to remain the biggest online shopping day of the season, with $15.1 billion in projected sales, up 6.2% year over year. Black Friday online sales are forecast to grow at a faster pace, up 9.2% to $12.9 billion, due in part to the steepest discounts on categories such as televisions, apparel, and appliances.
The firm said its forecasts draw on more than 1 trillion visits to U.S. retail sites, 100 million SKUs, and 18 product categories.
Adobe also expects consumers to stock up on essentials during holiday deals, projecting that online sales of personal hygiene products will more than double and clothing basics will more than triple during Cyber Week.
The report points to Amazon’s Prime Day sales event in October as a driver of earlier deal activity across U.S. retailers. Adobe expects online spending in October to reach $95.8 billion, up 8% year over year, well ahead of November.