US Likely No 'Black Friday' Boom This Year... "Year-End Online Shopping Growth to Cap at 10%"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] The growth rate of online shopping during the year-end holidays in the United States is expected to be the lowest in eight years.

According to major foreign media citing data from Adobe's marketing data analysis solution, 'Adobe Analytics,' the growth rate of online shopping during the peak season of November and December this year is projected to average 10%.

During the same period last year, there was a record increase of 33% compared to the previous year due to the impact of COVID-19.

Vivek Pandya, senior analyst at Adobe Digital Insights, predicted the year-end online shopping growth rate to be between 5% and 15%, explaining that the analysis also considered the risk of COVID-19 resurgence in addition to product shortages caused by supply chain disruptions.

Pandya added that in a situation where product supply shortages are expected, it is difficult to predict whether consumers will prefer online or offline stores.

Adobe also anticipated that consumer purchase prices would rise by about 9% due to product price increases caused by rising raw material and international shipping costs.