Record-Breaking Discounts On Clothes, Electronics For Holiday Season, Says Adobe

Adobe Inc ADBE released its annual holiday shopping forecast Thursday and expects consumers to see record-breaking deals this season. 

The company also said it expects U.S. consumers to spend more than $220 billion in online holiday shopping, good for about 5% year-over-year growth.

Pay Later: Adobe analytics factors in more than a trillion website visits in 18 different product categories, according to Retail TouchPoints.

Adobe also said it expects consumers to use more "buy-now-pay-later" services like the ones offered by Affirm Holdings Inc AFRM through its partnership with Amazon.com, Inc. AMZN and other retailers. 

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Falling Prices: While gas prices and grocery bills remain high, Adobe analytics shows that prices for online goods have fallen for 12 consecutive months, according to the report. This means Adobe expects consumers to spend more on online holiday purchases this year, despite the fact goods are cheaper and companies may offer steeper discounts. 

Adobe says to expect the biggest discounts on apparel, toys and electronics. So, if you’ve been eyeing a new bag or jacket from your favorite retailer, it may be worth waiting a couple of months for some holiday discounts.

Online deals have expanded dramatically throughout the past few years with Cyber Monday, the Monday following Thanksgiving, becoming one of the biggest online shopping days of the year. 

But, if there are any holiday gifts you are eyeing that may be running low on supply, it could be worth it to act early. Adobe expects holiday shoppers to start buying earlier than ever, with nearly half of its respondents saying they plan to begin their holiday shopping in October, according to Forbes.

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