Online sales forecast to exceed $100 billion this holiday season: Adobe
Adobe forecasts online sales for the holiday season totaling $107.4 billion, up 13.8% year-over-year and "outpacing in-store retail by 10%." Experts there say Cyber Monday will be the biggest online shopping day in history, with sales of $6.6 billion, up 16.5% year-over-year. Shoppers are expected to buy more items at lower prices, and mobile visits to retail websites are expected to surpass desktop visits for the first time. "We predict the biggest retailers with wide selections, easy shopping experiences and free shipping, to drive online holiday growth this year," said Mickey Mericle, Adobe's vice president of marketing and insights, in a statement. The SPDR S&P Retail ETF (XRT) is down 10.2% for the year so far while the S&P 500 index is up 15.2% for the period.
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11-02-17 0943ETCopyright (c) 2017 Dow Jones & Company, Inc.