The reported slowing of national inflation is mirrored in ecommerce pricing, judging by the Adobe Digital Price Index.
While March saw a record 3.6% increase in online prices, that growth slowed in April, which had a 2.9% increase. And, there was a 0.5% decrease month-over-month (MoM).
Overall, 13 of the 18 categories tracked by the DPI saw YoY price increases, but only eight
of 18 showed increases in April. And 10 categories saw price drops, including electronics, office supplies, jewelry, books, furniture/bedding, toys, home/garden, flowers/related gifts, computers, and
Eight of the 18 categories in the DPI saw price increases month-on-month (MoM). Price drops were observed across 10 categories including electronics, which fell by 5.2% YoY, down 0.9% MoM, one of five categories to show a decline. Apparel prices increased 12.3% YoY, but fell by 1.7% MoM.
Email teams can be forgiven if they are confused by the sudden shifts in pricing.
Adobe also reported these changes:
Consumers spent $77.80 billion online in April -- a 4.5% rise YoY. This total represented a 6.8% decline MoM, compared to $83.08 billion in March.
Online spending grew by 12.2% YoY (to $71 billion) in January, and 15.5% (to %57 billion) in February.
On a national level, prices rose by 0.3% in April, compared to March, according to the Bureau of Labor Statistics, as reported by The Washington Post.
“As the cost of borrowing and economic uncertainty rises for consumers, we are beginning to see the early impact on both online inflation and spend,” said Patrick Brown, vice president of growth marketing and insights, Adobe.
But Brown adds that “durable demand for e-commerce still drove over $77 billion dollars in spend last month, as consumers continue to embrace the ease of online shopping and more personalized customer experiences in the digital economy.”