Domestic Online Spending Passed $100 Billion for First Time in Q1, Says Adobe

Domestic online spending passed $100 billion for the first time in Q1, growing 14.1 percent over Q1 2017, said Adobe, which unveiled Wednesday a year-round report, Digital Dollar, covering online spending beyond the company’s online holiday sales reporting. It predicts Memorial Day sales will lead to 14.4 percent e-commerce growth in Q2. Driving online spending growth are continued consumer confidence and a strong stock market, it said. Smartphone share of visits to e-commerce sites (43.6 percent) nearly equaled share from desktop visits (47 percent) in March, but desktops hold a wide lead in revenue: for every dollar spent online via desktop in Q1, 32 cents were spent on mobile, it said. Nearly nine of 10 TVs sold in Q1 were smart TVs, and more than half of speakers sold were voice-enabled, said the report. Smartwatches, at 20 percent of watches bought in Q1, doubled their share of the watch market vs. five years ago, it said.