Adobe Releases Online Shopping Predictions For 2018 Holiday Season

(RTTNews) - Adobe (ADBE) announced, for the period from Nov. 1 through Dec. 31, U.S. online sales will increase 14.8 percent, totaling $124.1 billion, while offline retail spending is expected to increase a modest 2.7 percent. Cyber Monday will set a new record as the largest- and fastest-growing online shopping day of the year with $7.7 billion in sales, a 17.6 percent increase year over year, as per the predictions based on Adobe Analytics data.

Thanksgiving Day sales are anticipated to increase by 16.5 percent, generating $3.3 billion. Most anticipated gifts include 4K TVs, retro video games and consoles, as well as toys like Pomsies, Grumblies and Fortnite Monopoly.

Adobe leverages Adobe Sensei, the company's artificial intelligence and machine learning technology, to identify retail insights from trillions of data points that flow through Adobe Analytics and Magento Commerce Cloud, part of Adobe Experience Cloud.