Online Sales Picked Back Up After Post-Election Slowdown, Says Adobe

Consumer e-commerce spending swung north after a post-election falloff, emailed Adobe Friday, analyzing more than a trillion visits to U.S. retail sites Nov. 4-10. The analytics firm reaffirmed its holiday forecast, predicting $189 billion, a 33% year-on-year increase, will be spent online Nov. 1-Dec. 31, pending another round of stimulus checks or physical store shutdowns due to COVID-19. Consumers spent $1.9 billion the day after the election, down 12% vs. the three prior days. Online spending also reached $1.9 billion on Nov. 5, a 2% dip year on year. An upward trend began Nov. 6, with spending reaching $2.1 billion, up 9% year on year, and $1.9 billion on Nov. 7, an 11% rise. Spending reached $2.5 billion, up 26%, Nov. 8, $2.4 billion, up 24%, Nov. 9, and $2.5 billion Nov. 10, up 27%. Ten days into the holiday season, $21.7 billion has been spent online, Adobe said. Despite the spending slowdown after the election, enough big shopping days remain “to make up lost ground,” said Adobe Digital Insights Director Taylor Schreiner. Though discounting began earlier this year, Thanksgiving, Black Friday and Cyber Monday “have great staying power and are expected to set new records, with growth in the 35 to 40 percent range," Schreiner said.