Title: Soaring Online Sales in U.S. Holidays, Hit $240 Billion, Up 8.7%
Holiday shoppers broke records this season, with smartphone purchases leading the charge in a whopping $241.4 billion worth of online sales in November and December. Adobe's final data analysis, based on 1 trillion visits to U.S. retail sites, revealed that the figures surpassed their projected $240.8 billion and 8.4% growth.
Mobile commerce showed a significant boost, with a record 54.5% of transactions being completed on smartphones, up from 51.1% in the previous year. Interestingly, Christmas Day saw the highest percentage of mobile purchases at 65%, marking a slight increase from 2023's 63%.
Chatbots, powered by generative AI, served as influential digital shopping assistants, resulting in a 1,300% surge in website visits compared to the 2023 holiday season. On Cyber Monday, these chatbots experienced a staggering 1,950% increase in clicks. 70% of consumers using chatbots appreciate their impact, with 20% utilizing AI for best deals, 19% for item finds, and 15% for brand recommendations.
The 2024 holiday season underlined a shift in online shopping habits, as shoppers became more comfortable transacting on small screens and leaning on AI-assisted services for increased efficiency. Vivek Pandya, Adobe Digital Insights' lead analyst, commented on the potential opportunities for retailers to tap into these trends and innovate services that resonate with evolving consumer behaviors.
Beyond these findings, Adobe reported several other trends. The "Buy Now, Pay Later" (BNPL) method saw a record high usage with $18.2 billion in transactions, indicating a trend in cost-sensitive consumers. Top-selling categories included electronics, apparel, and furniture/home goods, with electronics ($55.3 billion) and apparel ($45.6 billion) leading the pack. The influence of discounts on online sales was evident, with a 1,029% increase in demand as the price decreased by 1%. Consumers also used discounts to upgrade to pricier goods, boosting the sales share of higher-priced items by 21%.
During the 2024 holiday season, Adobe's online sales analysis revealed that chat bots powered by generative AI played a significant role in shoppers' purchasing decisions, leading to a 1,300% increase in website visits and a staggering 1,950% increase in clicks on Cyber Monday. Additionally, Adobe reported that Adobe's online sales significantly increased when using the "Buy Now, Pay Later" (BNPL) method, with a record $18.2 billion in transactions.
To optimize sales during holiday seasons, retailers should consider leveraging chat bots powered by generative AI and offering BNPL payment options, as these trends have shown a significant impact on shopper behavior and online sales during the 2024 holiday season.
