Online holiday spending rose to record $241.4B

Online holiday shopping reached a record $241.4 billion during the 2024 season, fueled in part by AI-powered chatbots driving traffic to e-commerce sites.

According to recent data from Adobe Analytics, online spending grew nearly 9% year over year from November 1 to December 31. Spending reached more than $4 billion per day during the 15 days of the shopping period, compared to 11 days in 2023. :

For its analysis of US e-commerce, Adobe analyzes commerce transactions online, covering more than 1 trillion visits to US retail websites, 100 million SKUs and 18 product categories.

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As part of its analysis, Adobe also found that the traffic was from retail websites generative AI-powered chatbotswhen shoppers click on a link to a retail site increased by 1300% year over year Cyber ​​Monday traffic increased by 1950% year over year due to these chatbots.

According to the latest data from Adobe Analytics, between November 1 and December 31, online spending grew by nearly 9% year-over-year. (Javi Lopez/SOPA Images/LightRocket via Getty Images/Getty Images)

This data highlights the value that such bots play as shopping assistants, according to Adobe.

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In a recent Adobe survey of 5,000 US consumers, 70% of respondents who used generative AI to make purchases said it enhanced their experience to find transactions by data. Less than 20% use it to find specific items online, and 15% use it for brand recommendations.

Adobe also found that shoppers are relying on mobile devices to make purchases more than ever, with smartphones accounting for more than 54% of online purchases, and nearly 80% of all purchase-later transactions via smartphone.

Adobe found that shoppers are relying on mobile devices to shop more than ever, with smartphones driving more than 54% of online purchases. (Jakub Porzycki/NurPhoto via Getty Images/Getty Images)

Vivek Pandya, lead analyst at Adobe Digital Insights, said the season proved that “e-commerce is being reshaped by the consumer who now prefers to transact on smaller screens and rely on AI-powered services to generate more efficient purchases. to perform”.

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Retailers also provide “new services and experiences that capture the attention of consumers, many of whom are now shop online in a variety of waysPandya said.