By Reuters
January 7, 2025 – 5:08 AM PST
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(Reuters) – U.S. online spending rose nearly 9% during the 2024 holiday season, with shoppers mainly using their smartphones to buy products ranging from TVs to LEGO sets, data from Adobe Analytics showed on Tuesday.
Holiday spending from Nov. 1 through Dec. 31 rose 8.7% to about $241.4 billion online, compared with Adobe’s forecast of $240.8 billion in September. In 2023, online spending during the same period grew 4.9%.
A shorter holiday season and surplus discounts have been a key feature of the 2024 season with retailers including Walmart (WMT.N) and Target (TGT.N) increasing spending on ads and offering early discounts, targeted promotions as well as using artificial intelligence to help draw in bargain-hungry customers.
According to Adobe, 54.5% of online…
