E-commerce spend grows as shoppers opt for cheaper products

  • Consumers are buying cheaper goods online across categories
  • Mobile shopping is projected to comprise 52.5% of online shopping revenue during the holiday season
  • E-commerce spending reached a new record during the holiday season
  • Shoppers are open to purchasing more goods online
  • Convenience and low prices are key drivers for online shopping

According to a report by Adobe, consumers are increasingly opting for cheaper goods when shopping online across various categories. The report also projects that mobile shopping will make up 52.5% of online shopping revenue during the upcoming holiday season. Last year, mobile shopping revenue surpassed desktop for the first time during the holiday season, setting a new record of $222.1 billion in e-commerce spending from November to December. Research indicates that shoppers are willing to purchase more goods online, with convenience and low prices being the top drivers for this decision. The findings from Adobe’s report shed light on how consumers are adapting their spending habits amidst economic uncertainty. Despite fluctuating inflation rates, the digital economy remains resilient, with consumers embracing new online categories. Adobe predicts that groceries will become a dominant force in e-commerce revenue share, on par with electronics and apparel, within the next three years.

Factuality Level: 3
Factuality Justification: The article provides a mix of relevant information about consumer trends in mobile shopping and e-commerce spending, but it includes unnecessary details such as inflation rates and predictions for 2024. The article also lacks depth in analyzing the data and relies heavily on quotes from Adobe without much critical analysis.
Noise Level: 3
Noise Justification: The article provides relevant data and projections on consumer behavior, e-commerce trends, and economic indicators. It includes quotes from industry experts and references to research findings. However, some information is repetitive and lacks in-depth analysis of the implications of the trends discussed.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses consumer spending and e-commerce trends, which can impact the revenue and performance of online retailers and related industries.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification:

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