As Christmas shopping kicked into high gear last month, online prices rose at a record pace. And with a quarter of all holiday spending having to be done online this year, last-minute shoppers can also expect to feel the crunch.
Online prices for clothes, appliances and other goods purchased in November rose 3.5% from a year ago, according to Adobe’s Digital Price Index, which tracks more than 100 million products online. online sales in the United States. data in 2014, and the 18th consecutive month of online price growth.
On a monthly basis, prices fell slightly in November as retailers implemented discounts for Black Friday. But a still tangled global supply chain means higher shipping and storage costs for retailers – costs that will continue to be passed on to consumers. And the growing demand for last-minute gifts could lead to shortages and inventory issues that only exacerbate the problem.
Clothing saw the biggest price increase last month, with online prices up 17.26% on a year-on-year basis. The price of flowers increased by 15.48%, while products in the “tools and DIY” category increased by 6.93%.
Inflation is everywhere
Of course, it’s not just online prices that are skyrocketing. Overall prices rose 6.2% on an annual basis in October, according to the Bureau of Labor Statistics (BLS), and experts expect data released on Friday to show an even higher rate of inflation in November.
But it’s not all bad news for shoppers: Adobe’s index shows there are also a handful of online categories that have become cheaper over the past year, including computers, which fell 5.64%, and jewelry, which fell 3.69%. Given the high inflation rate in brick-and-mortar stores, it’s actually cheaper to buy toys, computers and sporting goods online, according to Adobe’s report.
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