Inflation, early shopping set to slow online holiday spending

According to a report, online holiday sales in US will increase at their slowest pace this year since 2015.

[{"selector":"#anim-357e9297-696a-4584-9ead-dbe00c48f77a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.10100435000352%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

This comes as shoppers are concerned about decades-high inflation and soaring interest rates.

[{"selector":"#anim-43f77e14-6a06-4184-b7fa-93089d76af46 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-11.286272207146379%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Online sales in November and December are projected to rise 2.5% to $209.7 billion, compared with an 8.6% increase a year ago.

[{"selector":"#anim-6480f91a-1ddc-47b6-9887-47910df544ff [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

More people appear to be returning to in-store shopping and hopping on to early shopping to save money.

[{"selector":"#anim-41d28ac9-6134-4437-8b40-514358286d48 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(18.584537732809753%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Customers are also planning on shipping fewer holiday packages, resulting in lower volume forecasts.

[{"selector":"#anim-a057dfa7-7005-41a9-8524-6f36ef97d544 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Annual inflation ran around 8.3% in August, impacting Americans' purchasing power.

[{"selector":"#anim-33aee99b-0786-4920-bf5a-6ac730628a86 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.248059294204015%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

Meanwhile, the Federal Reserve continues to take aggressive measures to hike interest rates, further hitting consumers' spending power.

[{"selector":"#anim-47b31132-8f28-4749-9370-9a8f2d22528b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.17499990397451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

A report also projected Black Friday online sales to rise just by 1% and Thanksgiving sales to fall by 1%.

[{"selector":"#anim-d90c9021-763a-4503-8280-cf95339eda86 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-48.06575243726239%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Inflation, early shopping set to slow online holiday spending

Inflation, early shopping set to slow online holiday spending

According to a report, online holiday sales in US will increase at their slowest pace this year since 2015.

According to a report, online holiday sales in US will increase at their slowest pace this year since 2015.

This comes as shoppers are concerned about decades-high inflation and soaring interest rates.

This comes as shoppers are concerned about decades-high inflation and soaring interest rates.

Online sales in November and December are projected to rise 2.5% to $209.7 billion, compared with an 8.6% increase a year ago.

Online sales in November and December are projected to rise 2.5% to $209.7 billion, compared with an 8.6% increase a year ago.

More people appear to be returning to in-store shopping and hopping on to early shopping to save money.

More people appear to be returning to in-store shopping and hopping on to early shopping to save money.

Customers are also planning on shipping fewer holiday packages, resulting in lower volume forecasts.

Customers are also planning on shipping fewer holiday packages, resulting in lower volume forecasts.

Annual inflation ran around 8.3% in August, impacting Americans' purchasing power.

Annual inflation ran around 8.3% in August, impacting Americans' purchasing power.

Meanwhile, the Federal Reserve continues to take aggressive measures to hike interest rates, further hitting consumers' spending power.

Meanwhile, the Federal Reserve continues to take aggressive measures to hike interest rates, further hitting consumers' spending power.

A report also projected Black Friday online sales to rise just by 1% and Thanksgiving sales to fall by 1%.

A report also projected Black Friday online sales to rise just by 1% and Thanksgiving sales to fall by 1%.

Download now