US e-commerce holiday sales will rise by 2.5% this year, compared to 8.6% growth in 2021 and a 33.0% increase in 2020, according to Adobe.
According to Insider Intelligence/eMarketer, while cash-strapped consumers are hesitant to open their wallets, the slowdown is also the result of a cooling effect following the boom of 2020.
Furthermore, Amazon and Walmart pushed demand forward with their October sales events, reducing holiday season e-commerce.
The graph shows how holiday e-commerce spiked in 2020, dropped the following year heavily, and continues to decline into 2022. Holiday sales growth this year has been lower than all years from 2015 until 2021.