As the holiday season approaches, predictions about end-of-year consumer spending are making headlines. An article in Recode analyzing Adobe Analytics’ holiday forecast anticipates that more shopping, although not necessarily paying for holiday gifts will be done on mobile devices, including tablets:
More than half of visits to shopping sites — 54 percent — will come from smartphones and tablets, surpassing desktop computers for the first time, according to Adobe Analytics’ annual suite of online holiday retail predictions. Customers are still more likely to actually complete a purchase on desktop after looking on mobile, but that’s changing.
Mobile shopping will account for 34 percent of online purchase revenue, up from 30 percent last year. That means that mobile will have a bigger share of the predicted $107.4 billion in online holiday spending this year, up from $94.4 billion in 2016.
Overall spending is anticipated to be good for retailers:
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Cyber Monday is forecasted to be the largest online shopping day in history, with $6.6 billion in online sales predicted, up 16.5 percent from 2016.
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Thanksgiving online spending is expected to grow 15 percent this year to $2.8 billion.
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One-sixth ($19.7 billion) of online holiday spending will occur between Thanksgiving and Cyber Monday.
If recent trends continue, much of this digital shopping will be done with credit cards, not debit.
Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group
Read the full story here