Honda and Renesas Collaborate for Next-Gen Software-Defined Vehicles in 2025
Consumer Buying to Set New Records Despite Less Spending in 2023
By Shubhendra Anand , 29 December, 2023
The consumers spending over the years has slowed down in the holiday season of 2023. Consumers buying has declined despite e-commerce sales starting for the holiday season in 2023. However, surveys indicate that despite the fall in consumers expenditure in 2023, the year will witness new records in the spending levels.
Due to many reasons consumers spending on purchases in 2023 has slowed down, such as major geopolitical conflicts, high inflation rates, supply chain disruptions, and many others. Consumers have changed their purchasing pattern citing cost effective way of living to manage their expenses. High prices in the market economy of different nation leads to changing consumer’s behavior that includes food choices as well in 2023. According to data provided by a survey, Cyber Monday is expected to be the biggest day of the holiday sales as it is supposed to drive USD 12 billion in online shopping. the online buying expenditure is higher with 6.1 percent compared to 2022. The data also shows that online sales after holiday season week anticipated to increase by 5.5 percent to USD 5.6 billion, while holiday sales following that week is supposed to increase by 5.7 percent to USD 9.6 billion in the United States for 2023. While the studies earlier have proved that 2023 witnesses less consumer spending, the holiday week (the week from thanksgiving and cyber Monday) shows new highs in the e-commerce sector. Online consumer spending grows up to USD 37.2 billion that is 16.8 percent of the total holiday week’s online sales in 2023.
The survey provides insights into the United States e-commerce by analyzing online transactions data of consumers. The study reveals that consumers spend most of their online payments in the online retail sites, that is more than one trillion in count for 2023. Although the studies have shown that consumer spending remained slow for 2023 due to high interest rates, inflation in food prices, rising oil prices, and other economic constraints, consumers buying is set to increase in the holiday week in 2023. Consumers are well prepared to manage their budgets and spend their penny efficiently in 2023.
Consumers up their Spending During BFCM Y-O-Y
Latest News
Honda and Renesas Collaborate for Next-Gen Software-Defined Vehicles in 2025
In January 2025, Honda Motor Co., Ltd. and Renesas Electronics Corporation declared a strategic collaboration to create a high-performance system on a chip (SoC) designed for Software Defined Vehicles (SDVs). This cooperation is intended to bolster…
NVIDIA's Mega Omniverse Master Plan: Revolutionizing Robotics and AI by 2025
 In 2025, NVIDIA is set to transform AI and robotics with its Mega Omniverse Blueprint, a framework for designing, simulating, and optimizing robot fleets within the digital twins of industrial environments. This new initiative combines NVIDIA's…
How Vaccines Helped Eradicate Deadly Diseases – A 2025 Breakthrough
Public health has benefited dramatically from vaccinations, which have helped completely eradicate or significantly lower the frequency of lethal illnesses. Vaccines will still be among the most potent weapons available in 2025 to stop global…
Oil Prices Crash in 2025: Biggest Weekly Drop Amid Tariffs & Oversupply
Oil prices stay on track as United States (U.S.) sanctions on Canada and Mexico keep diverting the market and stable supply levels support a significant weekly decline in 2025. Reuters said this is the biggest weekly decline since October…
Quadric and Denso Team Up to Progress Automotive AI Semiconductors for 2025
The automotive industry will benefit significantly from strategic partnerships in artificial intelligence (AI) and its use in cars. AI integration into automobiles is projected to improve considerably in the year 2025 due to the formation of various…
Shubhendra Anand
Head Research
Latest News
NVIDIA's Mega Omniverse Master Plan: Revolutionizing Robotics and AI by 2025
How Vaccines Helped Eradicate Deadly Diseases – A 2025 Breakthrough
Oil Prices Crash in 2025: Biggest Weekly Drop Amid Tariffs & Oversupply
Quadric and Denso Team Up to Progress Automotive AI Semiconductors for 2025
