Online Shopping Hits New Record During 2023 Holiday Season

Retailers have no excuse not to bolster their omni channel distribution channels following the recent report from Adobe Analytics that showed a 4.9% year over year growth in online spending for the holiday season. Online purchases reached $222.1 billion from Nov. 1 through Dec. 31, 2023, marking a new record for e-commerce.

In addition, mobile shopping hit a new record during the 2023 holiday season, as well. For the first time, mobile shopping passed desktop, coming in at 51.1% of online sales. It was at its highest on Christmas Day, December 25, at 63% of online sales.

Adobe reports $123.5 billion was spent online in the month of November, which is up 6% year-over-year. During Cyber Week, which includes the five days between Thanksgiving and Cyber Monday, $38 billion in online spending was reported, up 7.8% year-over-year. In December, consumers spent $98.6 billion online, an increase of 3.7% year-over-year.

Electronics, apparel, furniture, groceries, and toys are reportedly driving e-commerce growth. In fact, 65% of the $221.1 billion spent online this past holiday season was propelled by these five categories. Reports show electronics spending at $50.8 billion; apparel at $41.5 billion; furniture was $27.3 billion; groceries $19.1 billion; and toys at $7.7 billion.

These five categories have become key growth factors in the digital economy.

This strong holiday season online was reportedly assisted by record discounts and “Buy Now, Pay Later” programs which benefited consumers. Regardless, this data shows healthy e-commerce growth.