U.S. online holiday sales are expected to rise this year at their slowest pace since at least 2015, according to a report, as shoppers feel the brunt of decades-high inflation and soaring interest rates.
Adobe Analytics forecast online sales in November and December to rise 2.5 percent to $209.7 billion, compared with an 8.6 percent increase a year ago, as more people also return to in-store shopping and bring forward purchases to as early as October.
This is another sign of a gloomy holiday season, with FedEx Corp.’s Ground division expecting to lower volume forecasts to reflect customers’ plans to ship fewer holiday packages. Last month, Mastercard’s SpendingPulse report also forecast a slowdown in shopping for the holidays….