San Jose, California – A new estimate based on Adobe Analytics data indicates that e-commerce sales of furniture and home goods would enjoy a real year-over-year improvement during Holiday 2024, although not quite reach a 5% growth.
Adobe projects that between November 1 and December 31, U.S. online sales will reach $240.8 billion, an 8.4% increase over the same time the previous year. Online sales in 2023 amounted to $221.8 billion, a 4.9% increase over the previous year.
Furniture and home goods sales online are expected to increase 4.2% to $28.4 billion. The rise of the furniture and home goods area is expected to be more moderate in comparison to the other categories in Adobe’s online spending projection. Nonetheless, in terms of sales volume, it will bring in more money than toys, recreational goods, and cosmetics put together.
Strong discounts are predicted to increase spending in important areas like athletic goods, appliances, and electronics.
According to principal analyst at Adobe Digital Insights Vivek Pandya, “these discounting patterns are driving material changes in shopping behavior, with certain consumers now trading up to goods that were previously higher-priced and propelling growth for U.S. retailers.”
Other takeaways from the report:
- With paid search contributing 28% of online income from January 1 to September 3, it is still the primary engine of retail sales. It is anticipated to increase by 1% to 3% throughout the course of the holidays.
Social influencers are gaining fast. From January 1 to September 3, affiliates and partners, which includes social media influencers, constituted 17.2% of online revenue. It is anticipated that the channel will expand by 7% to 10% over the Christmas shopping season.
According to Adobe’s data, influencers have a tenfold higher conversion rate than social media as a whole. Social influencer traffic is predicted to surpass store traffic from social media overall (about 5% share) over the Christmas season, with growth rates ranging from 4% to 7%.- According to Adobe, Cyber Monday will continue to be the greatest shopping day of the year and season, bringing in a record $13.2 billion in sales—a 6.1% YoY increase.
Thanksgiving Day ($6.1 billion, up 8.7% YoY) and Black Friday ($10.8 billion, up 9.9% YoY) are predicted to expand at a faster rate than Cyber Monday as shoppers take advantage of earlier sales that American merchants have been promoting.
“The holiday shopping season has changed in recent years, with consumers buying earlier due to a constant flow of discounts that have given them more flexibility in how they manage their budgets,” Pandya added.
