US holiday online sales growth to slow on economic uncertainty: Adobe Analytics

US holiday online sales are expected to grow at a slower pace this year, according to projections by data firm Adobe Analytics released on Monday, as macroeconomic uncertainty continues to pressure consumer spending, reports Reuters.

Adobe expects US online sales to rise 5.3 per cent to $253.4 billion between November 1 and December 31, this year, compared with an 8.7 per cent rise last year.

Cyber Monday, a major online shopping event that takes place on the Monday after Thanksgiving, is expected to be the biggest online shopping day of the season and year, with sales rising 6.3 per cent to $14.2 billion on the day, Adobe said.

The holiday shopping period, a key driver of sales for retailers at the end of the year, will be even more critical this year as shifting trade policies under the Trump administration and persistent inflation take a toll on consumer spending. "You have consumers dealing with a lot in the broader economy," said Vivek Pandya, director at Adobe Digital Insights. "We anticipate them taking advantage of these major sales moments, and we still see them leaning on the online sector as an area to get better deals."