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Record-breaking Surge in Mobile Commerce: 2023 Sees a Remarkable 10.6% Year-on-Year Increase, Reaching $354.7 Billion

Adobe Analytics has unveiled a remarkable upswing in mobile online spending, reporting a staggering 46.7% year-over-year (YoY) surge to $35.9 billion in October 2023. This surge contributes to a broader trend, with cumulative growth from January to October 2023 hitting 10.6% YoY, culminating in a substantial $354.7 billion spent on mobile devices.

The driving force behind this surge is credited to more user-friendly mobile shopping experiences. Smartphones, akin to pocket-sized computers, facilitate seamless transactions and aid in decision-making, allowing users to discover ideal gifts at optimal prices.

October 2023 witnessed a 5.9% YoY increase in overall online spending, totaling $76.8 billion. Year-to-date spending from January to October 2023 painted an even more robust picture, reaching $759 billion with a substantial 4.3% YoY growth.

The report highlights early holiday discounts across popular categories, capturing consumer attention, especially in electronics and apparel. Sporting goods, appliances, toys, and home furniture offered attractive discounts, with 7% of shoppers recognizing appealing deals in various categories.

Curbside pickup maintained its appeal, constituting 18% of orders for retailers offering this service in October 2023. Expectations are that curbside pickup will rise in December due to cost savings and the desire to avoid shipping delays for last-minute purchases.

Contrary to concerns about rising prices, Adobe’s Digital Price Index revealed a 6% YoY decline in online prices in October 2023, marking 14 consecutive months of deflation. Adjusted for inflation, the growth stands at an impressive 11.9%.

A recent report unveils the unsurprising rise in mobile commerce, with 52% of US adults indicating either usage or interest in shoppable commerce. This trend reflects evolving consumer preferences and the growing significance of mobile platforms in shaping retail experiences.

Source: adapted from an article by Gizem Yilmaz, Author of Archives for Mobile Marketing Reads.

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