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Squali highlighted that aggregate holiday spending through December 1, including Cyber Week, is running ahead of expectations. Adobe (ADBE) reported Cyber Week sales of $44.25 billion, up 7.7% year‑over‑year and above its forecast of $43.7 billion.
Overall holiday spending from November 1 to December 1 is up 7.1% year‑over‑year, outpacing Adobe's 5.3% estimate.
Discounting has been a major theme, with retailers launching promotions earlier and across more categories. Squali noted that more efficient digital ad channels powered by AI are also driving incremental traffic to e-commerce sites. Also, he believes that strong consumer demand and low unemployment have led to record spending levels.
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