US' online prices fall 1.6% YoY in December 2022: Adobe DPI

12 Jan '23

1 min read

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Online prices in the US declined 1.6 per cent on an annual basis in December 2022, while rising 1.1 per cent month-over-month (MoM), according to the data from Adobe Digital Price Index (DPI). Due to falling prices, the country’s consumer demand accelerated in December 2022, generating $95.1 billion for e-commerce, up 5.8 per cent year-on-year (YoY).

December marked the fourth consecutive month of online price decreases on a YoY basis, as half of the 18 DPI categories experienced YoY price decreases.

Following November 2022 that saw record discounts around Cyber Week, the five-day period between Thanksgiving (November 24) and Cyber Monday (November 28), online prices rose 1.1 per cent MoM, as per Adobe DPI.

The YoY December online price decline was driven by holiday discounting, including strong deals that lingered past Cyber Week.

Some non-promotional categories—products that lack heavy discounting—saw continued slowing of price increases in December. This as the third consecutive month when YoY price increases decelerated from September’s record high, when prices rose 14.3 per cent YoY: October prices were up 14 per cent YoY, and November prices rose 13.7 per cent YoY.

In December 2022, nine categories experienced YoY price increases, which included furniture/bedding and apparel.

Fibre2Fashion News Desk (DP)

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