November online prices had biggest decline in 31 months: Adobe
Black Friday ignited biggest shopping weekend since COVID: Matthew Shay
National Retail Federation CEO Matthew Shay discusses record-breaking online Black Friday shopping sales and expectations for Cyber Monday on ‘Varney & Co.’
Online prices fell 1.9% in November, marking the largest drop in since May 2020, according to a recent Adobe Analytics report.
The Adobe Digital Price Index (DPI), which analyzes 18 product categories, showed that November marked the third consecutive month when prices declined on an annual basis. The data showed that prices in November also fell 3.2% on a monthly basis.
Fifteen of the 18 categories tracked by Adobe saw month-over-month price decreases in November, although this was heavily driven by "heavy discounting during Cyber Week," according to Adobe.
Adobe previously reported that discounts during the five-day period spurred so much demand that consumers collectively spent a hefty $35.27 billion, up 4% year over year. Shopping on Black Friday and Cyber Monday even marked record highs.
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