By By Lizzy Gurdus
Retailers’ days could be especially bright this holiday season, as online sales are expected to hit $100 billion for the first time ever, Adobe Chairman, President and CEO Shantanu Narayen told CNBC.
“We think it’ll be the first $100 billion, online, digital season ever,” Narayen told “Mad Money” host Jim Cramer in a Tuesday interview. “We announced that mobile will actually cross the PC in terms of where all of these transactions are happening.”
Adobe announced these predictions on Monday in its annual, holiday-season Digital Insights report. Last year, online holiday sales reached $91.7 billion, topping Adobe’s initial estimates.
Adobe also expects this year’s Cyber Monday — the Monday after Thanksgiving during which retailers offer deep discounts on online purchases — to be the biggest online shopping day ever.
“Cyber Monday is expected to become the largest online shopping day in history, generating $6.6 billion in sales, 16.5 percent growth compared to last year,” the press release said.
The National Retail Federation expects overall holiday sales to rise by as much as 4 percent this year, topping $680 billion. The NRF predicts that non-store sales, which include online and kiosk sales, will increase by up to 15 percent to approximately $140 billion.
Helping businesses large and small adapt to the era of digital engagement is one of Adobe’s key priorities, Narayen said.
Narayen said that the 2017 holiday season will likely see $100 billion worth of online purchases.
Read the rest @ https://www.cnbc.com/2017/11/07/adobe-ceo-says-holiday-season-to-hit-100-billion-in-online-sales.html
