US Online Spending Up in 2024 as Consumers Turn to Cheaper Goods

US e-commerce spending increased 7% year on year in the first four months as shoppers purchased more goods at cheaper prices, according to Adobe Analytics. 

Online sales came to $331.6 billion between January 1 and April 30, Adobe said last week. “Buy now, pay later” has also contributed to the increase, allowing shoppers to find more flexible ways to manage their budgets. For the period, this method contributed $25.9 billion to online sales, up 12% year on year. Net-new demand drove spending, rather than higher prices caused by inflation, Adobe said. 

Multiple categories saw growth, including electronics, apparel and groceries, Adobe noted. In the first four months, consumers spent $61.8 billion on electronics, up 3.1% year on year, while apparel rose 2.6% to $52.5 billion. Groceries climbed 16% to $38.8 billion. 

Mobile is gaining on desktop as the method of choice for shopping, after first surpassing it during the 2023 holiday season. In the first four months of the year, mobile purchasing grew 10% to $156.9 billion. 

In the first half of 2024, e-commerce sales will rise 7% year on year, exceeding $500 billion, Adobe predicted.  

“Months of persistent inflation has led shoppers to embrace cheaper goods across major e-commerce categories,” the data provider said. “Adobe found the share of the cheapest goods increased significantly across categories.” 

Image: A man shopping online. (Shutterstock)