2025Adobe.AllRightsReserved

AdobeConfidential

AdobeDigitalInsights|September2025

2025USHoliday

ShoppingForecast

?2025Adobe.AllRightsReserved.AdobeConfidential.

Methodology

Onlyindustryreportthatmeasuresdirectconsumertransactions

?Over1TrillionvisitstoU.S.retailwebsites

?100millionproductSKUs,across18productcategories

AdobeAnalyticsistheleadingdatainsightstoolforretailers

?85ofthetop100*U.S.InternetretailersuseAdobeExperienceCloudtopowertheirdigitalbusiness

?OnlyAdobecanaccessahighvolumeofconsumertransactions

?Dataisaggregatedandanonymizedtoprovideinsights

Complementarysurveybasedonresponsesfrom5,000U.S.consumers,fieldedbetweenSeptember9thandSeptember16th,2025

Disclaimer:TheinformationandanalysisinthisreleasehavebeenpreparedbyAdobeInc.forinformationalpurposesonlyandmaycontainstatementsaboutfutureeventsthatcoulddifferfromactualresults.AdobeInc.doesnotwarrantthatthematerialcontainedhereinisaccurateorfreeoferrorsandhasnoresponsibilitytoupdateorreviseinformationpresentedherein.AdobeInc.shallnotbeliableforanyrelianceupontheinformationprovidedherein.

*PertheDigitalCommerce360Top500report(2021)

?2025Adobe.AllRightsReserved.AdobeConfidential.

ExecutiveSummary

?Onlineholidaysalesaresettosurpass$250billionforthefirsttime,drivenbyresilientgrowthacrosscoreretailcategoriesandapronouncedseasonalsurgeabovepre-holidaylevels.

?Mobileisnowthedominantchannelforonlineshoppingyear-round,withitsshareexpectedtoclimbevenhigherthisholiday.Ensuringaseamlessmobileexperienceisnowmission-criticalforcapturingholidaydemand.

?Deep,strategicdiscountingwillbeessentialtounlockgrowth,asvalue-consciousconsumersactivelyseekthebestdeals.

?BuyNow,PayLater(BNPL)adoptionwillaccelerate,withCyberMondayprojectedtobethefirstdayevertoexceed$1billioninBNPLtransactions.

?Socialnetworks,affiliates,andpaidsearchwillbetheprimaryenginesofholidayrevenuegrowth.Influencerandaffiliatestrategiesaredeliveringoutsizedconversiongains.

?RedditandInstagramareemergingastop-performingreferralsources,drivingsignificantincreasesinbothtrafficandvisitorshareforbrands.

?GenAI-poweredreferralstoretailsitesareexpectedtogrowbyover500%year-over-year,withtrafficpeakinginthedaysleadinguptoThanksgiving—especially10daysprior.

?2025Adobe.AllRightsReserved.AdobeConfidential.

2025HolidaySeasonOnlineSpendingtocross$250BillionDollars

?Onlineretailisexpectedtoseemoderategrowth

thisseason(Nov-Dec)whichispoisedtomake2025thefirstquarterofatrillion-dollarholidayseason.

?Adobeforecastsarecord$253.4billiondollarswillbespentonlinethisholidayseason(Nov-Dec).

?Holidayspendgrowthisexpectedtoreach5.3%YoY(year-on-year)butcouldfluctuatebetween

3.7%($250.3B)to6%($255.9B).

?2025Adobe.AllRightsReserved.AdobeConfidential.

BlackFridayGainsShareofCyberWeekGrowth

?BlackFridaywillseethehighestgrowthovertheCyberWeekperiod

at8.3%YoYand$11.7Binrevenue,continuingtocapturealargershareofholidayspending.

?CyberMondaygrowthisprojectedataslightlylower6.3%YoYthoughitstillmaintains

dominanceasthetoponlinespendingdayoftheyearat$14.2B.

?StrongdiscountsdrivetheseasonalCyber

Week(ThanksgivingtoCyberMonday)growthtoabout6.3%YoYanddrawin$43.7B,that’s17.2%oftheseason'srevenue.

?2025Adobe.AllRightsReserved.AdobeConfidential.

"Mobile-first"HolidaySeasontoClosetheFirstMobile-firstyear

?Mobiledeviceshavecementedtheirpositionas

thedominantonlineshoppingformat,with2025poisedtobecomethefirstfullyearwithmore

than50%ofonlinespendinghappeningonmobiledevices.

?Adobeforecastsmobilerevenuesharetohita

record56.1%fortheholidayseasonwith7in10onlineretailvisitshappeningonmobiledevices.

?Arecord$142.7billionwillbespentviamobilethisholidayseason,up8.5%YoY

?2025Adobe.AllRightsReserved.AdobeConfidential.

VariedgrowthexpectedfromMajorCategories

?Electronicsareprojectedtogenerate$57.5billionwitha4%YoYgrowth.

?Grocerywilldrive$23.5Binrevenue,with9.3%YoYgrowth.Overindexingseasongrowth,butslowerthanlastyear's

12.9%increase.

?Cosmeticswillnet$8.4B,with9.1%growth,continuingtooverperformandgainrevenueshare.

?Apparel:Expectedtodrive$47.6billioninspend,reflectinga4.4%YoYgrowthfortheseason.

?Toys:Anticipatedtogrowby7.3%YoY,generating$8.8billion.

?FurnitureandHomegoodswillgrowat6.5%and$31.1B.

?SportingGoodswilldrive$8.2B,with5.1%growth.

?2025Adobe.AllRightsReserved.AdobeConfidential.

PriceSensitivityhasModerated,butPromotionalEventsStillDriveGrowth

?Sensitivitytopricechangehasdecreasedby12.8%on

averagesofarin2025,witha1%changeinpriceeffectinganaverage1.09%changeindemandin2025comparedtoa1.25%changein2024.

?Thedeclineinsensitivitytodiscountedpriceshasbeenslightlysteeperat13.2%.

?Themutedsensitivitypricechangeislikelydueinparttoconsumerwillingnesstopurchasefull-priceitemsorevenitemsthathaveincreasedinpricewiththeexpectation

thatpricesmaybesignificantlyhigherinthefuture.

?Whilethedirectresponsetodiscountsonindividual

productsmaynotbeasstronginthe2025holidayseasonasin2024,thepresenceofdeepdiscountswillbevitaltoassureprice-consciousconsumersthattheyaregettingthebestpossiblepricesontheproductstheypurchase.

?2025Adobe.AllRightsReserved.AdobeConfidential.

High-endgoodswillcaptureagreatershareduringtheholidayseason

?Thewillingnessofconsumerstospendwhentheybelieve

pricesareaslowastheywillbeisparticularlytrueforhigh-dollaritems.Duringthe2025holidayseasontheshareof

goodssoldfromthemostexpensivegoodsisexpectedtorisebymorethan19%acrossretailcategories.

?Holidayunit-shareboostformostexpensiveproductsacrosscategoriesisexpectedtoreach:

oSportingGoods:+56%

oElectronics:+52%

oAppliances:+39%

oPersonalCareProducts:+32%

oToolsandHomeImprovement:+26%

oBooks:+5%

oToys:+3%

oApparel:+8%

oHomeandGarden:4%

oGrocery:-3%

oFurnitureandBedding:-8%

Deepestdiscountsfortheseasonareexpectedtoreachupto28%

?Deepdiscountsareexpectedtocontinuetopushearlierintheseason,withdiscountsinthefirst2weeksofNovemberasdeepas13%offandpre-Thanksgivingdiscountsupto21%offbeforepeakseasondiscountsreach28%offduring

cyberweek.

?DiscountsareexpectedtoremainstrongthroughCyberweek(Nov27-Dec1),withCyberMonday(Dec1)expectedtoseethedeepestdiscountsofupto28%offlistprices.

?DecemberdiscountswillbeslightlyweakerthanNovember,thoughstillinthedouble-digitsintherangeof11-17%off.

?2025Adobe.AllRightsReserved.AdobeConfidential.

?2025Adobe.AllRightsReserved.AdobeConfidential.

BlackFridayexpectedtoofferthedeepestdiscountsonmostcategories

?Toencouragehigherspendingfromprice-sensitiveconsumers,weexpectretailerstoprovidesignificantseasonaldiscountsbetween10%-28%,

?WhileCyberMondayhashistoricallydominatedCyberWeek(Thanksgiving-CyberMonday)intermsofthedeepestonlinediscounts,trendstowardearlierdiscountingandthegrowingpopularityofBlackFridayasanonlineshoppingdayarepushingsomeofthebestdealsoftheseasonfromCyberMondaytoBlackFriday.

The2025holidayseason'sdeepestdiscountsareexpectedtoreachthefollowinglevels:

Electronics-28%

Televisions-23%

Toys-27%

Apparel-25%

Computers-23%

Appliances-18%

Furniture-18%

SportingGoods-

CyberMonday12/01

BlackFriday11/28

BlackFriday11/28

CyberMonday12/01

CyberMonday12/01

BlackFriday11/28

BlackFriday11/28

19%

Thanksgiving11/27

SeasonGrowthsustainedbystrongHolidaySpendingBoostAcrossKeyCategories

?Throughouttheholidayseason,onlinespendingisexpectedtobeup45%abovethedailyaverage

fromJan-Aug,drivenbysubstantialupticksincategorieslike:

oToys+460%(relativelysmallshareofspend)

oApparel+85%

oElectronics+80%

oSportingGoods+60%

?Andevenstronger205%liftinonlinespendingisexpectedduringCyberWeekledbycategories

including:

oToys:+845%

oApparel:+290%

oElectronics:+280%

oSportingGoods:+225%

oFurniture:+190%

oCosmetics:+160%

?2025Adobe.AllRightsReserved.AdobeConfidential.

TopSubcategoriesWillSignificantlyOverperformDuringCyberWeek

?Whilebroadupticksacrossecommerceproductsare

expectedduringCyberWeek,asubstantialportionoftheuptickwillbedrivenbykeysubcategoriesthatseean

outsizedbenefit.

?TopperformingproductsubcategoriesduringtheCyber5periodareexpectedtoseea900%-1100%uptickinsalescomparedtothedailyaveragefromJan-Aug.

oPowerTools:+1060%

oActivityTrackers:+1055%

oHomeSecurityProducts:+1050%

oVideoGameConsoles:+1040%

oGames:+1010%

oHeadphonesandspeakers:+985%

oSmartWatches:+950%

oVacuumCleaners:+920%

oTelevisions:+915%

oRefrigeratorsandFreezers:+910%

?2025Adobe.AllRightsReserved.AdobeConfidential.

OnlineShoppersSeekValueforMoney,NotJustSavings

?Manyholiday-favoriteproductsubcategories

includinggames,videogames,largeappliances,vacuumcleaners,televisions,andothersareexpectedtosee

elevatedholidayspendingduetoagrowingpreferenceforpremiumgoods.

?In2025,consumershavedemonstratedashiftinvalue-consciousonlineshoppingthatseeksabetterbalanceofpriceandqualityratherthansimplythelowestprice.

?Thisshifthasbeenfacilitatedinpartbyashrinkingprice-gapbetweenpremiumproductsandtheirmorebudget

friendlyalternatives.

?In2025,pricesofthecheapestquartileofproductshavefallenby8tenthsofapercentlessonaverageduring

periodsofdiscountsanddeflationandhavebeen

disproportionatelyaffectedbyinflationbyroughlythesameamount.

?2025Adobe.AllRightsReserved.AdobeConfidential.

ConsumersTurntoRenovationOverRelocation

?Consumersareexpectedtocapitalizeonholidayprice-cutstoinvestintheirlivingspaces,especiallyondurablegoodsandhigher-ticketitemslikepowertools,largeappliances,smarthometech,andhomesecurityproducts.

?Harvard’sLIRAreportprojectsarecoveryof1.2%growthinremodelingactivityin2025followingadeclinein2024,likelyaidedbyarelativelyweakseller’smarket

incentivizingimprovementoflivingspaceswhetherforcomfort,convenience,orcurbappeal.

?Theshrinkingprice-gapbetweencheaperandmore

expensiveproductsandstockpilingactivitygiven

consumerexpectationsofrisingpricesinthefuturewillprovideaddedfueltorenewedinterestinhome

improvement,furtherboostingholidayspending.

?2025Adobe.AllRightsReserved.AdobeConfidential.

Trackingmorethansteps,consumersareembracingbio-monitoring

?Fitnesstrackersandsmartwatcheshavelongbeena

holidayfavorite,andthisyeargrowingadoptionofbio-monitorsandwearabletechisexpectedtoprovideanextralifttoonlinesalesthisholidayseason.

?Interestinhealthmonitoringbroadlyhasseenanuptickin2025,evidencedbythe53%liftinonlinesales

oftraditionalbio-monitoringdevicesduringPrimeDay2025comparedtothe6%liftduringprimeday2024(comparedtoJuneaverages).

?Theemergenceofnewwearableformfactorsandtheexpansionoffeaturestoincludemorecomprehensivehealthandwellnessmonitoringhavepositionedbio-

monitoringdevicestotapintothisexpandingconsumerinterestforastrongholidayseason.

?2025Adobe.AllRightsReserved.AdobeConfidential.

NewConsoletoDriveSeasonalSalesSurge

?Thereleaseofthefirstnewmajorgamingplatformsince

2020isexpectedtoinjectnewlifeintoonlinesalesofVideoGamesthisholidayseason.

?TheNintendoSwitch2soldoutimmediatelyafteritsearlyJunereleaseandboostedoverallonlinesalesofgaming

productsbynearly70%inthedaysfollowingitsrelease.

?PromotionaleventsthroughoutJulyhelpedpushdailyonlinevideogamessalesinJulyup109%overtheYTDdailyaveragecomparedtojusta25%uptickinJulyof2024.

?Withvideogamesalreadyaperennialtop-performing

categoryduringtheholidayseason,thismostrecent

releaseisexpectedtoboostonlinesalesofvideogames,consoles,andaccessories,especiallyduringthecyber5periodwhendiscountsareattheirstrongest.

?2025Adobe.AllRightsReserved.AdobeConfidential.

Buynow,paylatermomentumbuildsheadedintoholiday

?Afteraslowerstartto2025,BuyNow,PayLater(BNPL)growthisgainingmomentumandisexpectedto

continuetogrowthroughtheholidayseason.

?Thisholidayseasonisforecastedtosee$19.8b-$20.4binBuyNow,PayLaterspend.Thisisanincreaseof9%

-12%fromthe2024holidayseason.

?ThebigshoppingdayswillcontinuetoseehighlevelsofBNPLspend.BlackFridayisforecastedtosee

between$748m-$775.5minBNPLspend,up9%-13%yearoveryear.

?CyberMondaywillsetanewrecordforthemostspentonasingledaythroughBNPLwithaforecasted$1.02b

-$1.06bspentthroughthepaymentmethod.Thisisup3%-7%fromlastyear,andwillbethefirstdaytocross$1billioninBNPLspend

?2025Adobe.AllRightsReserved.AdobeConfidential.

MobiledevicesdriveBNPLspend

?ThemajorityofBuyNow,PayLaterspendisbeing

predominatelydrivenbypeopleusingtheir

smartphone,ratherthanadesktop,laptoportablet.

?Sofarthisyear(Jan1-Aug21)79.8%ofbuynow,paylaterrevenuehascomethroughamobiledevice.

?Mobile'sshareofBNPLrevenueisforecastedtoremainhighduringtheholidayseason,atbetween79%-85%.

?Thismeansbetween$15.6billionand$17.3billionofBNPLspendwillbemadethroughamobiledevice

duringtheholidayseason.

?Duringthe2024holidayseason(Nov1-Dec31)$14.4billiondollarsofBNPLspendwasmadeonamobile

device.

?2025Adobe.AllRightsReserved.AdobeConfidential.

Lastminuteholidaygiftsdrivecurbsidepickup

?Curbsidepickupseeslowerusageoutsideofpeakperiodsbutremainsago-to

optionduringtheholidayseasonforlastminutegifts.

?Curbsidepickuphasbeenusedin16.9%oforderssofarthisyear(Jan1-Aug21),

down8.2%from2024whenitwasusedin18.4%oforders.

?BOPISisexpectedtopeaklaterinthe

seasononDecember22ndand23rdforlastminutegiftpurchasesat32%-37%oforders.

?2025Adobe.AllRightsReserved.AdobeConfidential.

SocialNetworks,Affiliates/PartnersandPaidSearchleadRevenueGrowth

?SocialNetworksdeliveredthestrongestyear-to-dategrowth(+41%YoY).

?AffiliatesandPartnersgrew+14%YoY,showingconsistentmomentumas

brandsleanonpartnership-drivensales.

?PaidSearchincreased+4.3%YoY,

maintainingitspositionasasteadyandreliablecontributortorevenue.

?2025Adobe.AllRightsReserved.AdobeConfidential.

MarketingChannelsForecast

?SocialNetworksareexpectedtocontinueitsstronggrowth,withrevenuesharerisingananticipated50%-53%year-over-yearin

NovemberandDecember.

?AffiliatesandPartnersareprojectedtogrow

13%-17%year-over-year,sustainingtheirstrongmomentumintotheholidayseason.

?PaidSearchisforecastedtoremainsteady,withamodest1%-3%increasethroughoutthe

holidayseason,reflectingitsconsistentperformance.

?NaturalSearchisexpectedtodropby3%-6%thisholidayseason,continuingitsdownwardtrend.

?2025Adobe.AllRightsReserved.AdobeConfidential.

ConversionRate:SocialNetworksvsSocialMediaAffiliates

?SocialMediaInfluencers/Affiliatesrepresenta

segmentwithinthebroaderAffiliatesmarketing

channel.SocialMediaAffiliatesconvertatahigherratethantheoverallSocialNetworksmarketing

channel.

?SocialMediaAffiliatesconvertedataratemorethan11timeshigherthantheoverallSocialNetworks

marketingchannelin2025.

?HighconversionfromSocialMediaAffiliatesis

expectedtopersistintotheholidayseason,asbrandsincreasinglyleanoninfluencer-drivenmarketing.

?2025Adobe.AllRightsReserved.AdobeConfidential.

RedditSurgesastheFastest-GrowingSocialReferralPlatform

?Redditisemergingasthefastest-growingsocialreferralplatform,withvisitsharenearly

doublingyear-over-year(+97%).

?Redditalsoleadsallplatformsinrevenuesharegrowth,upnearly37%year-to-date,makingitthestandoutperformerinsocialreferrals.

?WhileReddit’soverallshareremainssmallerthanlargerplatforms,Reddit’srapidgrowthsignalsstrongmomentumheadingintotheholidayseason.

?Withthisacceleration,Reddit’svisitshareis

projectedtoclimbfurtherby43.1%comparedtolastholidayseason.

?2025Adobe.AllRightsReserved.AdobeConfidential.

InstagramExtendsLeadOverTikTok

?SocialMediareferralvolumeisprojectedto

reachitsannualpeakonBlackFriday,withananticipated80%-83%surgeduringtheholidayseasoncomparedtotheyear-to-dateaverage.

?Year-to-date,socialmediareferralshavegrownby

37.7%comparedtothesameperiodin2024.

?Instagramvisitssurgedby41.0%andisexpectedtoincrease60%-65%year-over-yearduringthe

holidayseason.

?TikTokreferralsgrewby29.5%andisprojectedtogrow45%-47%duringthesameperiod.

?Importantly,Instagramrevenueshareroseby31%,whileTikTokslippedslightly.

?Redditleadsoverallgrowth,withInstagram

followingcloselyandmaintainingaclearleadoverTikTok.

?2025Adobe.AllRightsReserved.AdobeConfidential.

RedditGeneratesStrongestCommerceValue

?Redditstandsoutasthemostvaluable

referrer,withvisitvalueup~7%year-over-yearandexpectedtoriseanother16%thisholidayseason.

?Instagramremainssteadyandreliable,witheachvisitworthabout5xmorethanaTikTokvisitacrossJan-Jul2025.

?TikTokdrivenvisitsareexpectedtogenerateabout70-74%lessvaluethanInstagram

leadingintothisholidayseason.

?2025Adobe.AllRightsReserved.AdobeConfidential.

RedditandInstagramDriveQuality;TikTokStrugglestoEngage

?Reddit,InstagramandPinterestdeliverthe

strongesttrafficquality,withlowandimprovingbouncerates(~32%)thatreflectmoreengagedvisitors.

?Redditdeliversthemostefficientreferrals,with

visitsworth~1.5xmorethanotherreferralsand

lowerbouncerates—momentumitisexpectedtocarryintotheholidayseason.

?Instagramtrafficisprojectedtobe30-35%lesslikelytobouncethanTikTokduringthepeak

holidayperiod

?Withbounceratesaveraging49%inJan-Jul2025,TikTokcontinuestobetheoutlier,highlightingitsfunctionasanupper-funnelchannelfocusedonreachandawareness.

?2025Adobe.AllRightsReserved.AdobeConfidential.

GenAITrafficContinuestoGrow;PoisedtospikeThisHolidaySeason

?InAugust,trafficfromGenAIsourcestoretailsitesisup1500%YoY,withnearly300%growthsinceJanuary—underscoringtheexplosivemomentumAIassistants

havebuiltthisyear.

?Thisholidayseason,trafficisexpectedtorise515%-

520%YoY,withThanksgivingalonegrowingan

expected725%-730%YOY.Thesegainsremainmassive,andthepercentagesreflectgrowthcomingontopoflastyear’sholidaysurge—amuchstrongerstartingpoint.

?3outof4consumersarefamiliarwithAIassistants,andoverathirdhaveusedthemforonlineshopping.

?Nearly80%ofconsumerssaytheyuseAIassistantsmorefrequentlyduringorleadinguptohigh-stakesshoppingevents,suchasmajorsalesorholidays.

?2025Adobe.AllRightsReserved.AdobeConfidential.

AIAssistantsAreReshapingtheOnlineShoppingExperience

?72%ofconsumerswhohaveusedAIforonlineshoppingsaidtheyarelesslikelytoreturn

itemspurchasedwiththehelpofanAIassistant.

?AmongconsumerswhomadeapurchaseusinganAIassistant,95%reportedbeingsatisfied

withtheirpurchase.

?ConsumersrelyonAIassistantsforavarietyofshopping-relatedtasksincluding:

oResearch(53%)

oProductRecommendations(40%)

oDealSeeking(36%)

oGiftInspiration(30%)

?2025Adobe.AllRightsReserved.AdobeConfidential.

AI-ReferredTraffic:DesktopFirstbutShiftingTowardMobile

?AImobilevisitsharehasconsistentlyrisen

throughouttheyear,increasing44%sincethestartof2025.

?InAugust,nearly27%ofAItraffichascomefrommobile,comparedto73%fromdesktop

?Mobileshareisexpectedtocontinueitsgrowththroughouttherestoftheyear,reaching

approximately30%duringtheholidayseason.

?2025Adobe.AllRightsReserved.AdobeConfidential.

ProductCategoriesPoisedforAI-DrivenBoostThisSeason

?41%ofconsumerssaytheyturntoAIforinspirationandideas—mostoftenbeforetheybeginshopping.

?AIreferralvisitsareexpectedtopeakinthedaysleadinguptoThanksgiving,specificallyonNovember17th,10dayspriortoThanksgivingandagainonNovember25th,just2daysbeforeThanksgiving.

StrongBoost

?Toys

?Electronics

?Jewelry

?PersonalCareProducts

ModerateBoost

?HomeImprovement

?Home&Garden

?Apparel

?Appliances

WeakerBoost

?PetProducts

?SportingGoods

?Grocery

?Furniture&Bedding

?ProductsexpectedtoseestrongAI-drivenreferralgrowththisseasonincludeBluetoothHeadphones,Computers,TVs,DysonAirwraps,Fragrances,CoffeeMakers,AirFryers,EducationalSTEMKits,LegoSets,andPokémonTradingCards.

Holidayhotproductstowatch

Toyswatchlist

?DisneyStitchPuppetronic

?LabubuDolls

?MrBeastLabToys

?Fisher-PriceLittlePeople

?LEGOsets

?MiniBrandsCapsules

?BlueyUltimateLightsandSoundsPlayhouse

?SquishmallowPlushToys

VideoGameswatchlist

?NintendoSwitch2

?PS5

?XboxSeriesX

?DonkeyKongBananza

?EldenRing:Nightreign

?MaddenNFL26

?NBA2k26

?EASportsFC26

?CallofDuty:BlackOps7

?GhostofYotei

?NinjaGaiden4

Additionalhotproducts

?iPhone17

?GooglePixel10

?SamsungGalaxyS25

?OuraRing4

?KindleColorsoft

?AirpodsPro3(IfReleased)

?DJIOsmoPocket3

?2025Adobe.AllRightsReserved.AdobeConfidential.

?DysonAirwrapMultiStyler

?2025Adobe.AllRightsReserved.AdobeConfidential.

Shoppingcapturesimaginationsthroughtheholidayseason

ConsumersspendmoremoneyduringNovemberandDecemberthanatanyothertimeintheyear,andthat’sreflectedinAIimagegeneration

?Imagesrepresentingshoppinghittheir2024peakinNovemberinthelead-uptoBlackFridayandCyberMondayat+28%Jan-Octaverages

?ElectronicslikePhones(+29%)andTVs(+21%)hittheir2024peaksinNovemberaswell

?ImageswithtoysjumpedinNovemberbutpeakedinDecemberat+50%Jan-Oct,asChristmasapproached,mirroringthecategory’slaterpurchasingcycle

Imageswithgiftsspikedto200%Jan-OctaveragesinNov,andthenupagaintoawhopping315%abovetheJan-OctaverageasChristmas-relatedimageryspiked

?2025Adobe.AllRightsReserved.AdobeConfidential.

Three