Shoppers Go Wild, Spending Soars 5% to Hit All-Time High of $222 Billion in Holiday Online Shopping of 2023

Manoj Prasad

Holiday online shopping in 2023 reached a new record. According to Adobe Analytics, consumers spent a total of $222.1 billion online from November 1 to December 31, 2023, which was a 4.9% increase year-over-year and set a new record for e-commerce. 

The report also highlighted that more than half of that figure, $123.5 billion, was achieved in November, a 6% year-over-year increase, and during Cyber Week alone, $38 billion online was spent, up 7.8% year-over-year. The use of the “buy now, pay later” payment option also hit an all-time high, contributing to $16.6 billion in online spending, a 14% year-over-year increase.

 Additionally, major e-commerce categories saw greater discounts, with electronics, toys, and apparel experiencing significant discount rates. The data from Adobe Analytics, which is relied upon by over 85% of the top 100 internet retailers in the U.S., provides a comprehensive view of U.S. e-commerce by analyzing commerce transactions online1

Therefore, based on the data from Adobe Analytics, it is evident that holiday online shopping in 2023 indeed reached a new record.

Previous Record for Holiday Online Shopping

The previous record for holiday online shopping was not mentioned in the search results. However, it is mentioned that the online spending during the 2023 holiday season hit a new record, according to a recent report from data firm Adobe Analytics.

The numbers, released on January 4, 2024, showed online spending between November 1 and December 31 spiked by nearly 5 percent to a record high of $222.1 billion on retailer websites and apps. This is an increase of $10.4 billion from the previous year, as noted by Adobe.

Categories That Sold Highest During the 2023 Holiday Season

The categories of products that saw the highest sales during the 2023 holiday season were apparel and accessories, electronics, toys, and games. According to Statista, apparel and accessories were forecast to be the most lucrative product category for retail e-commerce sales during the 2023 holiday season in the United States.

Additionally, Amazon’s top-selling products during the 2023 holiday season included toys and games, electronics, pet supplies, sports and outdoors, and books. 

Furthermore, data from Adobe Analytics revealed that major e-commerce categories saw significant discounts, with electronics, toys, and apparel experiencing high discount rates, indicating strong sales in these categories. 

Therefore, it can be concluded that apparel and accessories, electronics, toys, and games were among the top-selling product categories during the 2023 holiday season.

Categories That Sold Least Over the 2023 Holidays

During the 2023 holiday season, some product categories saw lower sales compared to previous years. According to Earnest Analytics, holiday sales were down 1.7% year-over-year in the first 8 days of the season. Specific categories that experienced declining sales include electronics, home furnishings, and toys. 

Additionally, luxury apparel and home-related sales, such as general electronics, were also significantly down year-over-year1. Despite these declines, overall holiday spending increased, with retail sales from November 1 to December 24 increasing 3.1% from a year earlier, according to data from Mastercard SpendingPulse.

Share This Article
Follow: founder Manoj utilizes his tech degree and 5+ years as a stock investor to lead as editor-in-chief, overseeing all content, proof-reading, and fact-checking. He also covers personal finance topics and cryptocurrencies news.
Leave a comment