{"id":800,"date":"2024-07-01T00:41:26","date_gmt":"2024-07-01T00:41:26","guid":{"rendered":"https:\/\/www.yellowfalconmedia.com\/blog\/2024\/07\/01\/retail-ecommerce-spending-grows-in-first-third-of-year-adobe-data-shows-digital-commerce-360\/"},"modified":"2024-07-01T00:41:26","modified_gmt":"2024-07-01T00:41:26","slug":"retail-ecommerce-spending-grows-in-first-third-of-year-adobe-data-shows-digital-commerce-360","status":"publish","type":"post","link":"https:\/\/www.yellowfalconmedia.com\/blog\/2024\/07\/01\/retail-ecommerce-spending-grows-in-first-third-of-year-adobe-data-shows-digital-commerce-360\/","title":{"rendered":"Retail ecommerce spending grows in first third of year, Adobe data shows – Digital Commerce 360"},"content":{"rendered":"

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In the first third of 2024, retail ecommerce spending grew 7% year over year in the U.S., according to new Adobe Analytics data.
Adobe says its data is based on more than 1 trillion visits to U.S. retail ecommerce sites, 100 million SKUs and 18 product categories.
\u201cIn an unpredictable economic environment, the latest data from Adobe Analytics shows continued resilience in the digital economy, as consumers embrace new categories online,\u201d said Vivek Pandya, lead analyst at Adobe Digital Insights, in a statement<\/a>. \u201cGroceries is a standout, and Adobe expects that in the next three years, the category will be a dominant force in e-commerce that is on par with electronics and apparel in revenue share.\u201d
In total, 333 online retailers in the Top 1000<\/a> use Adobe for vendor services including \u2014 but not limited to \u2014 its ecommerce platform. Some use it for web analytics, performance and hosting, as well as cloud services and more. The Top 1000 is Digital Commerce 360’s database ranking the largest North American online retailers based on their annual web sales.
From Jan. 1 through April 30, consumers spent $331.6 billion online, the data shows.
Adobe Analytics projects more than $500 billion in U.S. retail ecommerce spending in the first half of 2024. That would represent at least 6.8% year-over-year growth, based on Adobe data from 2023.
Electronics, apparel and grocery sales guided retail ecommerce spending through April this year, Adobe said. Consumers spent $61.8 billion online on electronics (3.1% year-over-year growth), $54.5 billion on apparel (2.6% growth) and $38.8 billion on groceries<\/a> (15.7% growth), the data showed.
The cosmetics category also grew year over year \u2014 up 8% to $13.2 billion. In all of 2023, the cosmetics category accounted for $35 billion in online sales, which was up 15.6% year over year.
Adobe found that within the grocery category, “goods with low inflation saw revenue grow by 13.4%, while products with high inflation saw revenue drop by 15.6%. The effect was less pronounced in a category such as cosmetics (revenue up 3.06% for low-inflation goods, down only 0.34% for high-inflation goods), as consumers exhibit stronger loyalty for their favorite brands.”
Adobe separated its data into four price quartiles. Going back to January 2019 from April 2024, it found that the share of the cheapest products “increased significantly across categories.”
Although to a lesser extent, the sales share of cheapest goods also grew for:
Adobe noted that these are categories where brand loyalty has more of an impact on consumers’ decision-making. It also said consumers tend to invest in higher-quality products within these categories.
In a different way of combating inflation, U.S. consumers continue to use BNPL (buy now, pay later) “for greater flexibility in managing their budgets,” Adobe said.
Through April this year, consumers used BNPL to spend $25.9 billion. That’s up 11.8% through the same period last year.
Adobe projects that to grow through 2024, driving between $81 billion and $84.8 billion. That would put year-over-year growth between 8% and 13%, Adobe said.
Mobile commerce also grew in the first four months of 2024, bringing in $156.9 billion in online sales. That’s up 9.8% over the same period in 2023. Adobe projects mobile sales to take a 52.5% share of online revenue in 2024 holiday spending (November through December). In the 2023 holiday season, mobile spending surpasses desktop for the first time at 51% share of November and December sales. Mobile spending in the 2023 holiday season<\/a> peaked on Christmas at 61% share of sales.
<\/i>Holiday online sales grow domestically, globally in 2023<\/a>
When it comes to marketing channels, paid search has driven the largest share of sales this year, Adobe said. It attributes 28.2% of retail ecommerce spending to paid search, and:
Revenue that Adobe directly attributes to social media remained at less than 5% of total sales, but that share has grown 5.2% year over year in 2024. Organic search has declined 5.6%, Adobe said, driving 15.9% of total sales so far this year.
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