According to data from Adobe Analytics, online holiday shopping during the 2024 season reached a record $241.4 billion, showing a nearly 9% year-over-year increase in online spending between November 1 and December 31. The report also highlighted that for 15 days during the shopping period, spending surpassed $4 billion in a single day, up from 11 days in 2023.
Generative AI-powered chatbots played a significant role in driving traffic to e-commerce sites, with a 1,300% increase in traffic from these chatbots when compared to the previous year. On Cyber Monday, traffic saw a 1,950% year-over-year increase due to the use of these chatbots.
A survey of 5,000 U.S. consumers conducted by Adobe revealed that 70% of respondents who used generative AI for shopping found it enhanced their experience. Additionally, 20% of respondents used AI to find the best deals, while just under 20% used it to find specific items online and 15% relied on it for brand recommendations.
Mobile devices, particularly smartphones, played a significant role in online shopping, driving more than 54% of online purchases. Furthermore, almost 80% of buy now, pay later transactions were made through smartphones.
According to Vivek Pandya, lead analyst at Adobe Digital Insights, the 2024 holiday season demonstrated a shift in consumer behavior towards transacting on smaller screens and relying on generative AI-powered services for more efficient shopping experiences. Pandya also noted that retailers are adapting to these changes by offering new services and experiences to capture the attention of consumers who are now shopping online in different ways.