Adobe Predicts $13.9B in 2017 Holiday Online Revenue
Retailers may see a bit more holiday cheer this year from online sales, at least according to holiday predictions released on Monday from Adobe. Based on Adobe Analytics data, the online holiday shopping season is off to a good start through Veteran’s Day weekend, with every day from Nov. 1 to Nov. 11 each surpassing $1 billion in online spend (compared to only nine of 11 days in 2016). Specific to Veteran’s Day, total online sales came in at $1.3 billion, which is a 9.1 percent increase vs. last year. The holiday season's revenue is tracking 1.8 percent higher than predicted for a total of $13.9 billion in online revenue this holiday season.
Total Retail's Take: Indeed, given the strong performance of online shopping to kick off the holiday season, retailers should be prepared for a busy holiday season. According to Adobe, which analyzes data from 4,500 retail websites, 55 million SKUs, and more than 1 trillion visits, the reason revenue growth has increased so much this year is likely due to last year’s presidential election and steeper product discounts in 2017. Overall, Adobe expects online sales will be $107.4 billion, an increase of 13.8 percent year-over-year. Cyber Monday is also expected to become the largest online shopping day in history, generating $6.6 billion in sales, a 16.5 percent increase vs. last year. Sales on Thanksgiving Day are expected to increase 15 percent year-over-year to $2.8 billion. One out of every six dollars this holiday season will be spent between Thanksgiving and Cyber Monday, leading to $19.7 billion in sales.