Majority Believe That Generative AI Enhanced Shopping Experience: Adobe Analytics Data

(RTTNews) - Adobe Inc. (ADBE) Tuesday disclosed online shopping data for the 2024 holiday season, covering the period from November 1 through December 31, 2024.

As per Adobe Analytics data, that was compied from majority of the top 100 internet retailers in the U.S., consumers spent $241.4 billion in this holiday season, up 8.7 percent year-over-year.

Out of $241.4 billion, 54 percent was contributed by three categories including electronics, apparel, and furniture/home goods. Consumers spent $55.3 billion on electronics, $45.6 billion on apparels, and $29.2 billion on furniture/home goods, year-over-year growth of 8.8 percent, 9.9 percent, and 6.8 percent respectively.

During this season, traffic to retail sites from generative AI-powered chat bots saw an increase of 1,300 percent compared to the prior year. In a survey of 5,000 U.S. consumers by Adobe, seven out of ten respondents believed that generative AI enhanced their shopping experience.

'Buy Now, Pay Later' (BNPL) schemes continue to play a significant role in e-commerce by contributing $18.2 billion in online spend, up 9.6 percent. This was an all-time high.

Strong consumer spending online continues to be driven by net-new demand and not higher prices. Adobe's Digital Price Index shows e-commerce prices have fallen consecutively for 27 months, down 2.6 percent year-on-year in November 2024.

"The 2024 holiday season showed that e-commerce is being reshaped by a consumer who now prefers to transact on smaller screens and lean on generative AI-powered services to shop more efficiently," said Vivek Pandya, lead analyst, Adobe Digital Insights.