January 23, 2018
Final results for online sales during the 2017 holidays are coming in and the news is good for retailers—no matter who was counting.
According to Adobe Digital Insights, in November and December, U.S. consumers spent more than $108 billion online, up nearly 15 percent from 2016. The final numbers from Adobe corroborated the firm’s results from the holiday weekend kickoff and exceeded its initial prediction for online sales by $1 billion.
Cyber Monday was the first time U.S. consumers spent $2 billion online in a day via mobile devices and that momentum carried through to the season-long totals, according to Adobe. Holiday m-commerce grew 28 percent to nearly $36 billion from 2016 to 2017, the company said, accounting for 35 percent of online revenue in November and December.
The National Retail Federation (NRF) also released numbers for the full holiday season and found an increase of nearly 12 percent from 2016 to more than $138 billion in sales. E-commerce accounted for around 20 percent of total retail sales this holiday season, which grew at a more sedate 5.5 percent to nearly $692 billion.
“Retail has proven once again that it is the most nimble industry in the economy, able to transform and reinvent itself to meet always-changing consumer demands,” said Matthew Shay, president and CEO of the NRF. “Retail today doesn’t look like retail 10 years ago and it certainly won’t look the same in another 10 years.”