Online Spending Passes $100 Billion For The First Time

by MR Magazine Staff

Online spending by U.S. consumers surpassed $100 billion for the first time during the first quarter of this year, representing a 14.1% increase over the same period last year, according to Adobe’s new Digital Dollar report. The amount of money consumers spend while shopping via mobile devices is now about one-third the amount spent via desktop online shopping, and the former eventually will overtake the latter, according to the report. Mobile shopping spending was about one-fifth the desktop figure in 2014. The report also pointed to evidence that consumers timed their spending around first quarter holidays, such as Presidents Day, and the store sales promotions related to those holidays. That in turn suggests, according to Adobe, the upcoming Memorial Day holiday weekend represents an “especially huge opportunity for retailers to grab consumers’ attention.” Read more at Retail Dive.