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Price increases slowed in non-promotional categories including groceries, pet products and personal care. Adobe announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics in November 2022, with online prices falling 1.9% year-over-year.
After two years of the pandemic (March 2020 through February 2022), U.S. consumers spent $1.7 trillion online, $609 billion more than the two preceding years. Demand remained strong in 2021 with $885 billion in online spend, up 8.9% year-over-year (YoY).
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This is a new record high, after the previous record in November 2021 when prices rose 3.5% YoY. It marks the 21 st consecutive month of YoY online inflation. In February, tools and home improvement were a standout category, with prices seeing their highest annual increase at 7.8% YoY (up 0.8% MoM).
Acquisition Brings Leading Work Management Platform for Marketers to Adobe Experience Cloud Adobe (Nasdaq:ADBE) today announced it has entered into a definitive agreement to acquire Workfront, the leading work management platform for marketers, for $1.5 billion, subject to customary purchase price adjustments. With more than 3,000 customers and one million users, Workfront is the solution ...
Adobe announced Adobe Digital Price Index (DPI) findings of the latest online inflation data powered by Adobe Analytics, showing that online prices fell 1.8% year-over-year in April 2023.
Prices for the category have remained consistently elevated since September 2020, with only one month (November 2021) seeing a price drop at 0.9% YoY. Demand for personal care products has risen in tandem with online grocery shopping, as the two categories often share the same e-commerce basket.