Holiday Spending Expected to Rise 6.7% in 2023
Adobe Analytics forecasts that U.S. holiday spending will increase by 6.7%, reaching a record high of $275 billion this year, despite ongoing economic uncertainty and higher interest rates. The prediction comes as retailers prepare for the season with more aggressive promotions, expanded online product selections, and new payment options such as Buy Now, Pay Later to attract consumers. The anticipated spending growth reflects continued consumer resilience in key sectors like electronics, apparel, and home goods. Adobe's data suggests that e-commerce will play a significant role again this year, driven by convenience and competitive pricing strategies from major retailers.
Topics: Black Friday online shopping payment options retail promotions