US holiday online sales to grow 6.7% as discounts attract shoppers, Adobe Analytics forecasts

Sept 28 : US online sales will likely grow 6.7 per cent this holiday season, nearly the same pace as last year, as promotions attract deal-seeking shoppers, Adobe Analytics forecast on Monday.

Higher household costs are turning shoppers more selective and value-seeking. Retailers, including Walmart, Kohl's and American Eagle, have raised concerns on consumers' spending capacity ahead of the key shopping period that drives end-of-year sales.

• Online November-December sales to grow to $275.1 billion from $257.8 billion a year earlier, Adobe Analytics forecast

• Discounts are expected to peak at 30 per cent on Cyber Monday, with the deepest markdowns for electronics and computers; Black Friday is likely to offer the best deals on TVs, toys, apparel, appliances and furniture

• Cyber Monday likely to draw in the biggest spending at $15 billion — a 6.2 per cent increase after last year's 7.1 per cent

• Black Friday online sales seen rising 9.2 per cent to $12.9 billion, after last year's 9.1 per cent jump; Forecast for Thanksgiving online sales rise is 8.5 per cent, up from 5.3 per cent a year ago

• Adobe’s forecast is based on over 1 trillion visits to US retail sites, 100 million SKUs, and 18 product categories