The 2024 holiday shopping season is expected to be a record-breaking one, with Adobe Analytics predicting a total of $240.8 billion in sales. This surpasses last year’s $222.1 billion figure, thanks to an increase in online shopping and anticipated discounts in various product categories. The shift towards mobile shopping is particularly noteworthy, with mobile devices expected to contribute $128.1 billion to the total sales, representing a 53.2% share of online spend.
Influencers are also expected to play a significant role in influencing consumer purchases, especially among Gen Z shoppers. Adobe’s data indicates that influencers are converting shoppers at a rate 10 times higher than social media overall, and this trend is expected to continue during the holiday season. As a result, retailers may adjust their marketing strategies to target consumers who are influenced by popular social media figures.
For those looking to score some great deals, Amazon Prime Day in October is shaping up to be a major event, with discounts of up to 30% off list prices expected. In addition, Cyber Week – spanning Thanksgiving, Black Friday, and Cyber Monday – is also a prime time for bargain hunters to snag deals on toys, appliances, electronics, and more. Keeping an eye on the expected discounts for each day of the holiday shopping season could help shoppers maximize their savings.
As for popular holiday gift picks for 2024, Lego sets, the Bluey Ultimate Lights and Sounds Playhouse, Fisher-Price Little People, as well as video games like Madden NFL 25 and NBA 2k25 are expected to be in high demand. Tech enthusiasts can look forward to the latest iPhone and Pixel models from Apple and Google, as well as popular action games like Diablo and Call of Duty. With careful planning and savvy shopping tactics, consumers can make the most of the holiday season without overspending.
Overall, Adobe’s forecast paints a picture of a bustling holiday retail season, fueled by consumer spending and a competitive market landscape. The key to navigating this shopping frenzy is to stay informed about upcoming sales events, track discounts, and prioritize purchases based on the best times to shop for specific items. By following these guidelines and making strategic shopping decisions, shoppers can make the most of the holiday season while staying within their budget.
