This Season’s Holiday Spending Is Set To Break Records, Rising 14.1% Compared With Last Year

The Most Wonderful Time of The Year is rapidly approaching, which means the holiday shopping will soon commence. This used to mean overcrowded malls and long lines; however, as we now know, consumers are lazy and appreciate anything that’s convenient. And, with the rise of e-commerce, consumers’ laziness won’t hinder holiday spending (oh, phew!). 

Digital holiday spending is set to hit a record of $143.7 billion this season alone, a 14.1% increase compared with last year, according to CNBC, citing data from Adobe Analytics. 

Cyber Monday sales are expected to reach $9.4 billion, up almost 19% from last year, Adobe said. Online Black Friday sales are expected to come in around $7.5 billion, up 20% from last year, while online Thanksgiving Day sales are predicted to increase by 19.5% to an estimated to $4.4 billion, according to Adobe. 

The ease of online holiday shopping may make things easier for consumers, but for brick-and-mortar retailers, this could really turn their holiday cheer to holiday fear. 

This year, there are six fewer days between Thanksgiving and Christmas, making it the shortest possible holiday season, resulting in a lot less time for shoppers to get out there and well, shop. 

As a result, brick-and-mortar retailers will be rolling out deals sooner than they ever have in the past. 

“We fully expect [retailers] to be driving discounts and sales much earlier and much more consistently throughout the season,” Product Marketing Manager for Adobe, Nate Smith, said to CNBC. “You are going to see that all through November.”

Holiday shopping already gives consumers plenty of anxiety, even before the loss of six whole days! This writer wouldn’t be too surprised if things just went up in flames. 

As Stanley Tucci in The Devil Wears Prada warns, “Gird your loins!”

Read the full CNBC article here.