Adobe Analytics reported that U.S. digital spending during the holiday season of 2022 increased by a greater-than-anticipated 3.5%, with businesses using steep discounts to entice inflation-weary shoppers to spend on everything from toys to electronics.
The survey indicated that shoppers spent a record $211.7 billion online during the holiday season, which normally begins in November and continues into December, compared to an earlier prediction of $209.7 billion.
“At a time when consumers were dealing with elevated prices in areas such as food, gas, and rent, holiday discounts were strong enough to sustain discretionary spending through the entire season,” said Vivek Pandya, lead analyst, Adobe Digital Insights, reported Reuters.
Adobe Analytics, which monitors e-commerce by tracking website transactions, has access to data from 85% of the top 100 internet merchants in the United States.
According to market research firm Insider Intelligence, Amazon remains the largest online seller in the United States, accounting for approximately 38% of retail e-commerce sales. Walmart is the second largest, accounting for about 6% of the market.