Amazon Stock, E-Commerce Firms Tumble as Holiday Sales Report Disappoints

Surge in Online Spending during Holiday Season, According to Adobe Analytics

According to a new report from Adobe Analytics, online spending by U.S. shoppers increased by 5% during the holiday season. This boost was fueled by record levels of discounts and deferred payments options. From November 1 to December 31, consumers spent a total of $222.1 billion online, representing a 4.9% increase compared to the same period in 2022. The data also revealed that online spending in November surged by 6% year-over-year, reaching $123.5 billion. In December, shoppers spent $98.6 billion, marking a 3.7% increase from the previous year’s figures.