Online Retail Spending Up

In the U.S., online retail sales rose roughly 7 percent from January to April, according to research from Adobe Analytics, reports Reuters. The increase in spending is driven by a demand for groceries and cheaper discretionary items.

Adobe found that share of the cheapest units sold in categories including grocery and personal care increased from January to April, while share of the most expensive products has come down. These moves indicate that consumers seek out cheaper alternatives, according to the report.

"We are seeing consumers down-shift and spend more on the cheapest goods within a degree, that is helping categories stay resilient and see continued spending, but it also showcases that consumers are having to manage the inflation they're experiencing in housing, gas, and food," said Vivek Pandya, lead insights analyst for Adobe.

Adobe’s research found that total online spending from January to April 2024 grew to $331.6 billion, up from $309.8 billion in the same period last year. Grocery spending grew 15.7 percent over the period, the highest growth of all categories. Full Story