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Recent data from Adobe Analytics showcases an extraordinary surge in mobile online spending. In October 2023, mobile spending experienced a remarkable 46.7% year-over-year (YoY) increase, soaring to an impressive $35.9 billion. This upward trajectory is part of a broader trend, with cumulative growth from January 2023 through October 2023 reaching 10.6% YoY, culminating in a substantial $354.7 billion spent on mobile devices.
The driving force behind this surge is attributed to more user-friendly and intuitive mobile shopping experiences. With smartphones acting as mini-computers in consumers’ pockets, the ease of making purchases on smaller screens has become increasingly prevalent. This digital transformation is not only facilitating transactions but is also aiding in decision-making, helping users discover perfect gifts at optimal prices.
October 2023 saw an overall 5.9% YoY increase in online spending, reaching a total of $76.8 billion. The year-to-date online spending from January 2023 through October 2023 painted an even more robust picture, totaling $759 billion and marking a substantial 4.3% YoY growth.
The report also shed light on early holiday discounts across popular categories like electronics and apparel, successfully capturing consumer attention. Notably, sporting goods, appliances, toys, and home furniture have seen attractive discounts, with 7% of shoppers recognizing appealing deals in sporting goods and other categories.
Curbside pickup maintained its robust appeal, constituting 18% of orders for retailers offering this service in October 2023—a slight increase from the 17% observed in October 2022. Expectations are that the use of curbside pickup will continue to rise in December, driven by cost savings and the desire to avoid shipping delays for last-minute purchases.
Contrary to concerns about escalating prices, Adobe’s Digital Price Index revealed a 6% YoY decline in online prices in October 2023—marking 14 consecutive months of deflation. When adjusted for inflation, the growth stands at an impressive 11.9%.
As a recent report unveils, the rise in mobile commerce comes as no surprise, with a notable 52% of US adults indicating either usage or interest in shoppable commerce. This trend reflects the evolving landscape of consumer preferences and the growing significance of mobile platforms in shaping retail experiences.
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