Consumers Facing Multiple Headwinds Ahead of Holiday Shopping
The U.S. economy continues to post positive growth, but signs of pressure on the U.S. consumer include rising credit card debt and increasing reliance on short term financing schemes like Buy Now Pay Later to enable purchases. Adobe Analytics is predicting 5% growth for U.S. online sales in the period, tallying $221.8 billion over $211.7 billion in the prior year, but it believes that growth will depend on heavy discounting and increased BNPL purchases in the Nov. 1 to Dec. 31 window. Cyber Week is expected to account for 17% of ... Log in to view full article.