![]() In 2022, the share of online purchases using BNPL grew by 14% YoY, with revenue from BNPL growing 27% YoY. Rising costs of living have pushed consumers toward buy now, pay later services that allow them to pay for purchases over time. “Now consumers have embraced the rich ecommerce experiences that made them feel comfortable getting these necessities delivered to their doorsteps, making these categories new growth drivers in the digital economy.” “Ecommerce demand has remained resilient in an uncertain economic environment, driven in part by lasting pandemic habits where consumers had no choice but to leverage online food and home furnishing shopping services,” said Vivek Pandya, lead analyst of Adobe Digital Insights. Demand for electronics slowed following a record holiday shopping season, falling 5.4% YoY to $13.6 billion, while apparel fell 0.6% YoY, driving $11.3 billion in February spending. Groceries grew even more substantially at 26.7% YoY, driving $8.4 billion in spending. In February 2023, the home furnishings category grew 12.9% YoY, driving $9.4 billion in spending for the month. These trends have persisted in recent weeks. Similarly, though apparel was another major category and drove $171.8 billion in 2022 spending, the number actually fell by 3.8% YoY. This strong growth contrasts with electronics, which remains the top category by total spending ($202 billion), but only grew 4% YoY. In 2022, consumers spent over $126 billion on home furnishings, a 10.2% increase year-over-year (YoY), as well as $86.8 billion on groceries, a 10.8% increase YoY. Home furnishings and groceries driving growth online ![]() ![]() Adobe Analytics is part of Adobe Experience Cloud, relied upon by over 85% of the top 100 internet retailers in the US to deliver, measure, and personalize shopping experiences online. Yet at the same time, continued economic uncertainty is driving many shoppers to delay payment for purchases by using buy now, pay later (BNPL) options online.īased on Adobe Analytics data, the report provides the most comprehensive view into US ecommerce by analyzing commerce transactions online, covering over 1 trillion visits to US retail sites, 100 million SKUs, and 18 product categories. The report reveals resilient online shopping demand for groceries and home furnishings, categories that previously struggled to gain traction, and reflects the lasting impacts of pandemic-related habits. Adobe Analytics - buy now, pay later usage driven by home furnishings and groceriesĪt Adobe Summit - the world’s largest digital experience conference - Adobe released new US ecommerce insights into recent changes in the digital economy. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |