Online spending increased by 8.6% in 2021 compared to the previous year but with new economic challanges, will 2022 see consumers spending as much? According to Adobe‘s predictions, the answer is yes.
Thanks to consumers continuing to prioritise the ease and flexibility of ecommerce Adobe predicts that total holiday season online spend in November and December would reach $209.7 billion in 2022.
Adobe’s predictions and insights
Check out some key insights provided by Adobe’s Communications Team.
Holiday shopping started sooner – This year businesses were releasing “Black Friday Deals” as early as mid-October. Customers are also starting earlier to try and find the best deals to get ahead of the December rush.
Customers want free shipping – One of the biggest differentiators for customers when choosing where to do their festive shopping is price. Customers want the best deals to save as much money as possible. For many people, shipping is where they want it.
Mobile commerce continues to grow – Customers want to be able to shop online whenever and wherever. As the mobile market continues to grow, so does its influence on the holiday season. If a business doesn’t have a mobile storefront, it’s missing out on significant revenue.
Online shopping remains big – Online shopping saves customers time, money, and hassle. More people than ever are shopping online, and businesses need to ensure they have quality ecommerce platforms in place to support traffic. For consumers, being able to do all your holiday shopping from the comfort of your home and with the ease of your mobile device is incredibly appealing.
Rising prices are going to affect volume – While total income is not projected to take a dive, orders could be reduced with prices creeping up. Online orders are projected to decline by around 6% in November and December 2022, compared to the same time last year.
Returns need to be more flexible – Consumers want returns to be easy. Automation may be the best way for customer service to handle the increase in tickets.
BOPIS options are growing – Starting in 2020, when people wanted to avoid public spaces and crowds, buy online, pick up in store (BOPIS) options exploded — and they are still prevalent in 2022.
Profit margins are shrinking – Inflation is causing many consumers to cut back on spending. Along with increases in labor, transportation, and supplier costs, this will begin to hurt business profits.
Shoppers want sustainable options – Consumers want to do their holiday shopping quickly and affordably, but more and more of them also care about environmental impact. In turn, brands are increasingly using sustainability initiatives to draw in customers.
Non-gift options are on the rise – Not all holiday shopping is done for others. Plenty of consumers are buying products for themselves, especially as travel has been down in recent years.
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