By American Trucker staff
An online shopping forecast compiled by Adobe expects that online sales this holiday season will top $107.4 billion, an increase of 13.8% from last year, while in-store retail holiday sales are expected to grow 10% compared to 2016.
Cyber Monday is expected to become the largest online shopping day in history this year, generating $6.6 billion in sales, which is 16.5% higher than last year. Sales on Thanksgiving Day are expected to increase 15% percent year-over-year to $2.8 billion, with one out of every six dollars this holiday season to be spent between Thanksgiving and Cyber Monday, generating to $19.7 billion in sales.
While online purchases via desktop computers are predicted to account for two-thirds of e-commerce revenue this holiday season, mobile technology is serving as a “starting point” for many consumers, Adobe found.
For the first time, web traffic from smartphones and tablets is predicted to be higher than for desktops, at 54% and 46% respectively.
Also, while large retailers – those with more than $100 million in annual revenue – will see higher online order values compared to smaller retailers (those with less than $10 million in annual revenue) those smaller retailers are expected to have a “mobile advantage” with a higher average conversion rate of 1.9% by attracting more online shoppers who have an “intent to buy.”
Adobe’s analytics data also forecasts that shoppers will gravitate towards purchasing more lower-priced items online as opposed to big ticket items. While toys and apparel saw a 39% and 20% unit growth respectively last holiday season, jewelry sales came in low, with a 3% decline in unit growth, with those trends are expected to continue this season.
“This year’s record-breaking online holiday shopping season is built on the strength of the big players,” noted Mickey Mericle, vice president of marketing and insights at Adobe, in a statement.
“We predict the biggest retailers with wide selections, easy shopping experiences and free shipping, to drive online holiday growth this year,” Mericle said. “Still, there is opportunity for savvy small retailers to win, specifically with mobile experiences. As revenue growth plateaus, retailers will be competing hard for customers by offering steep discounts and providing a seamless customer journey.”