Adobe Analytics released its holiday e-commerce sales report on Tuesday showing that consumers spent a record-setting $241.4 billion online during the 2024 holiday shopping season.
The Details: Online spending grew 8.7% from 2023 and consumers spent more than $4 billion in a single day on 15 separate days during the Nov. 1 to Dec. 31 period. According to Adobe's report, mobile shopping on a smartphone accounted for the majority of online sales and grew to reach 54.4% of total transactions in 2024.
Cash-strapped consumers were drawn to strong discounts during the 2024 holiday season which drove purchases of higher-priced items in electronics, sporting goods and appliances. The share-of-units-sold for the most expensive goods increased by 21% overall, according to Adobe.
The use of AI chat bot shopping assistants and increased 'Buy Now, Pay Later' purchases were other notable trends during the holiday shopping season.
AI Chat Bots: Adobe's report highlighted the growth in use of generative AI chat bots as shopping assistants this season. Traffic to retail sites from generative AI-powered chat bots was up 1,300% compared to 2023 and growth in chat bot usage reached 1,950% on Cyber Monday.
"The 2024 holiday season showed that e-commerce is being reshaped by a consumer who now prefers to transact on smaller screens and lean on generative AI-powered services to shop more efficiently," said Vivek Pandya, lead analyst, Adobe Digital Insights.
BNPL: The 2024 holiday shopping season saw 'Buy Now, Pay Later' usage from providers like Affirm Holdings, Inc.
Hot Sellers: Adobe's survey showed that top sellers included TVs, Bluetooth headphones and smart watches in electronics. Top toys this season included LEGO sets and Mattel, Inc.'s