Online prices in US drop 1.9% YoY in Nov 2022: Adobe DPI

Source:China Sport ShowRelease time:08-Dec-2022Clicks:

Article From：Fibre2Fashion

In November 2022, online prices in the US fell 1.9 per cent year-over-year (YoY) and 3.2 per cent month-over-month (MoM). This marks the third consecutive month when online prices have decreased on a YoY basis, and the largest YoY drop in the past 31 months, since May 2020, as per Adobe’s Digital Price Index (DPI).

The DPI is modelled after the Consumer Price Index (CPI), published by the US Bureau of Labor Statistics, and uses the Fisher Price Index to track online prices. The decline in online prices for November was driven by heavy discounting during Cyber Week, the five-day period between Thanksgiving (November 24) and Cyber Monday (November 28), according to a press release by Adobe.

The month generated $116.5 billion for e-commerce, growing 1.7 per cent YoY and a significant 62.5 per cent MoM. Adobe’s figures are not adjusted for inflation, but with the November DPI down 1.9 per cent, it is clear that strong consumer spending has been driven by net-new demand—and not simply higher prices.

In categories that don’t see heavy discounting, price increases have slowed in November. This is the second consecutive month where YoY price increases have come down from record highs: October prices were up 14 per cent YoY, down from September (up 14.3 per cent YoY) and August (up 14.1 per cent YoY).

“While the November drop in online prices was driven by major discounting on days including Cyber Monday and Black Friday, we also see signs of overall e-commerce inflation cooling,” said Patrick Brown, vice president of growth marketing and insights at Adobe.

Adobe’s DPI provides a comprehensive view into how much consumers pay for goods online, complementing the Bureau of Labor Statistics’ CPI, which captures offline prices. Powered by Adobe Analytics, the DPI analyses one trillion visits to retail sites and over 100 million SKUs across 18 product categories including apparel.