Even with consumer sentiment tumbling, holiday shopping is expected to be business as usual, at least according to Adobe’s forecasting.
Adobe Analytics expects U.S. online retail sales to hit a record $275.1 billion this holiday season, a 6.7% year-over-year increase. The high forecast comes as consumer sentiment has fallen 15% this year, according to a September survey from the University of Michigan.
Adobe’s forecast is based on more than 1 trillion visits to U.S. ecommerce sites across 100 million products and 18 categories. The company expects the five days from Thanksgiving to Cyber Monday to drive $47.5 billion, or 17.3%
