AI chatbots drive online holiday spending to record level
Published On Jan 7, 2025, 1:27 PM
Online holiday spending reached a record $241.4 billion during the 2024 season, driven by the use of AI chatbots that significantly increased traffic to e-commerce sites. Adobe Analytics reported a nearly 9% year-over-year increase in online spending from November 1 to December 31. Mobile shopping saw substantial growth, with smartphones accounting for over 54% of online purchases. Many consumers found that AI enhanced their shopping experience, with a notable rise in the use of AI for finding deals and brand recommendations.
Stock Forecasts
AMZN
Positive
The recorded increase in online spending, particularly bolstered by mobile shopping and AI technology, suggests a continuing growth trend in e-commerce. Companies that effectively leverage AI technology could be positioned to capture more market share in the retail sector. This sets a positive tone for stocks in the e-commerce and AI technology sectors.
XLY
Positive
Overall retail performance indicates a strong consumer base willing to spend, which may positively influence broader market sentiment and related sectors, particularly those focused on consumer goods and technology. The combination of holiday spending and the influence of AI technology in shopping behaviors offers various investment avenues.
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