US' Cyber Five weekend e-commerce spending expected to rise 4%

Despite concerns about inflation and unsettling economic news, this holiday's e-commerce sales are expected to build on a strong season from last year. The analysis, which is based on transaction intelligence from Signifyd’s extensive commerce network of merchants, suggests that the holiday season will vary depending on the merchant's specific vertical.

The data projects a robust season particularly for the apparel sector, with year-over-year (YoY) sales in the fourth quarter predicted to be up by 9 per cent. Sporting goods are also expected to see a 5 per cent sales increase compared to last year. However, the Cyber Five period—spanning from Thanksgiving to Cyber Monday—will have a more uneven performance. Only the apparel sector is expected to have a breakout Cyber Five, with sales projected to rise 10 per cent over 2022, as per Signifyd.

Consumers are predicted to start their holiday shopping early, with e-commerce sales expected to increase by 7 per cent in October compared to last year. November sales are also projected to rise by 5 per cent. However, the holiday spending momentum is expected to cool off in December, with a mere 3 per cent YoY increase in sales.

This forecast for the holiday season follows September data that indicates US consumers are still cautious in their spending. Overall e-commerce spending was up just 3 per cent from September 2022, according to Signifyd E-commerce Pulse Data. Similar to August, September's buying patterns suggest that consumers are prioritising needs over wants.

Fibre2Fashion News Desk (DP)