Record-High Discounts Are Expected During the Holidays Despite Inventory Gluts, Softening Consumer Spending

[Epoch-Times-Bot]

Record-High Discounts Are Expected During the Holidays Despite Inventory Gluts, Softening Consumer Spending

Adobe reported that online shopping sales in the United States will likely hit $209.7 billion during the holiday sales season, as consumers struggle with high inflation and a weakened economy.
The software company predicted in its Oct. 10 report that online sales will slightly grow 2.5 percent year over year from Nov. 1 to Dec. 31.

Shoppers spent $204.5 billion online during the 2021 holiday season, a growth of 8.6 percent from the previous year, after consumers were reluctant to shop at physical retail stores due to the pandemic.
Almost half of the projected online customer spending is expected to come from electronics, at $49.8 billion, up 2.9 percent.
This was followed by apparel, which is projected to hit $40.7 billion in online purchases, while groceries are set to reach $13.3 billion in sales online....

Source: Record-High Discounts Are Expected During the Holidays Despite Inventory Gluts, Softening Consumer Spending

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