December 9, 2022

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Live news updates: American Airlines boosts third-quarter revenue guidance

Live news updates: American Airlines boosts third-quarter revenue guidance

Discounts on online merchandise are set to hit a record high this holiday shopping season, according to Adobe Analytics, in a potential treat for bargain hunters that should help keep US consumer spending high during the period.

Shoppers can take advantage of discounts of up to 32 percent on computers, 27 percent on electronic goods, and 22 percent on games, Adobe estimates, as they are on track to spend nearly $210 billion online during the holiday season, which Starts from 1 November. until the end of the year.

Discounts, a function of retailers trying to get rid of them surplus stockIt is expected to arrive earlier this fall, in a slight change from traditional spending patterns. To help drive that trend, e-commerce giant Amazon launched its second Prime Day sale this year on Tuesday.

“The holiday season will look different this year, with the early discount in October driving up spending that would have been during Internet Week,” said Patrick Brown, Vice President of Growth Marketing and Insights at Adobe.

A worker at an Amazon distribution facility in Staten Island, New York. The e-commerce giant begins its second Prime Day sale this year on Tuesday © Johannes Eisele / AFP / Getty Images

As a result, sales of Cyber ​​Week — the Thanksgiving period to Cyber ​​Monday — are expected to rise just 2.8 percent from a year ago to $34.8 billion, Adobe estimates. That would represent 16.3 percent of spending in the holiday season, down from 16.6 percent in 2021.

Adobe expects US online holiday sales to reach $209.7 billion from November 1 to December 31, up 2.5 percent from last year. Holiday spending is expected to be affected by inflation, higher borrowing costs and previous discounts.

Retailers have suffered from overstocking in recent months, as consumers have changed their spending patterns in response to persistently high inflation.

Companies have begun discounting items for unit transfers, which means consumers have been able to find more discounts during the year, not just during Internet Week.

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