Adobe released its online shopping forecast for the 2021 holiday season (Nov 1 – Dec 31). As part of the Adobe Digital Economy Index, Adobe provides a comprehensive view of U.S. and global e-commerce by analyzing direct consumer transactions online.
Globally, online spending is expected to hit US$910 billion (RM3.78 trillion) this season, or 11 percent growth year-over-year. Adobe expects over US$4 Trillion to be spent globally in all of 2021 — a new milestone for e-commerce.
“We are entering a second holiday season where the pandemic will dictate the terms,” said Patrick Brown, vice president of growth marketing and insights, Adobe. “Limited product availability, higher prices, and concerns about shipping delays will drive another surge towards e-commerce, as it provides more flexibility in how and when consumers choose to shop.”
Buy Now Pay Later (BNPL) becomes a major trend, consumers are embracing new payment methods to free up cash this holiday season.
Online revenue from BNPL this year has been 10 percent higher than 2020 and 45 percent higher than 2019, based on Adobe Analytics data.
Shoppers are also using BNPL for increasingly less expensive orders, with the minimum order value dropping 12 percent YoY to $225.
In the Adobe survey, 25 percent of respondents said they have used BNPL in the last 3 months, with apparel (cited by 43 percent), electronics (33 percent), and groceries (30 percent) as the top categories.
Based on Adobe Analytics data, the analysis covers over one trillion visits to U.S. retail sites, 100 million SKUs, and 18 product categories, with global views based on transactions in over 100 countries across three regions.
