The 2024 U.S. holiday season got off to a strong start, with online spending up 9.6% year-over-year to $77.4 billion

It is learned that on November 27, according to foreign media reports, according to Adobe Analytics data, the first 24 days of the 2024 US holiday shopping season performed well, with online spending reaching US$77.4 billion, a year-on-year increase of 9.6%, exceeding Adobe's forecast of 8.4% growth for the entire holiday season.

Data from November 1 to 24 showed that consumers were enthusiastic about shopping, with daily spending exceeding $3 billion for 21 days, far exceeding the 16 days in the same period of 2023. From the perspective of consumer categories, electronic products still dominate. As of November 24, US consumers spent $17.7 billion on electronic products, an increase of 11.4% year-on-year. This figure reflects consumers' strong demand for technology products, especially driven by continuous discounts and promotions, making electronic products one of the most popular commodities in this holiday season.

Although electronics accounted for the largest share, other categories also performed very well. Apparel spending was particularly strong, totaling $14.5 billion, up 13.4% year-on-year. Grocery items also witnessed significant growth, with total spending reaching $7.5 billion, up 16.8% year-on-year. Spending on furniture and bedding also increased by 7.2% to $9.5 billion, while spending on cosmetics increased by 10.1% to $3.2 billion.

In terms of shopping methods, the use of mobile devices continues to rise, becoming a new trend in holiday shopping. According to Adobe data, in the first 24 days of November, 51.6% of online purchases were made via mobile phones or tablets, up from 49.5% in the same period last year. Mobile devices have become the mainstream shopping tool for consumers, with spending reaching $39.9 billion, a year-on-year increase of 13.3%. Adobe predicts that mobile shopping spending throughout the holiday season will set a new record of $128.1 billion, a year-on-year increase of 12.8%.

Another trend worth noting is the widespread use of the "Buy Now Pay Later" payment method. In the first 24 days of this year's holiday season, online consumption paid through BNPL reached US$5.7 billion, a year-on-year increase of 3.6%. This payment method has been widely welcomed by consumers, especially on mobile shopping platforms, where BNPL usage accounted for 79.1% of total consumption. Adobe predicts that as Cyber ​​Monday approaches, BNPL payment methods will become more popular and are expected to set a record of US$993 million, a year-on-year increase of 5.6%.

For the performance of the following promotion days, Adobe predicts that online spending on Cyber ​​Monday will reach a record $13.2 billion, a year-on-year increase of 6.1%. In comparison, Black Friday (November 29) is expected to reach $10.8 billion, a year-on-year increase of 9.9%, and Thanksgiving online spending will reach $6.1 billion, a year-on-year increase of 8.7%.

"The holiday season got off to a strong start, with consumers willing to splash out on more expensive items in categories like electronics and appliances, in part due to ongoing discounts," said Vivek Pandya, principal analyst at Adobe Digital Insights. "Consumers also embraced new ways to shop online this season, from the rise of mobile shopping, which will once again surpass desktop shopping, to the use of generative AI chatbots as shopping assistants."

Author ✎ Rayna/

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