Chain Store Age
July marked a continuation of a promising trend for digital consumers.
U.S. online prices in July 2023 fell 1.6% year-over-year (YoY). This made July the 11th consecutive month of year-over-year (YoY) price decreases, according to the latest data from the Adobe Digital Price Index (DPI), based on Adobe Analytics,. On a month-over-month (MoM) basis, online prices fell 0.9% in July 2023.
The July decrease followed the June 2023 decline of 2.6%, the biggest YoY drop in online prices tracked by Adobe since May 2020. Eleven of 18 online product categories tracked by Adobe saw falling prices on an annual basis. July’s YoY online price decline was especially driven by notable drops in categories such as appliances, which fell 8% YoY (down 0.3% MoM), as well as furniture/bedding which fell 3.5% YoY (down 0.7% MoM).
Steeper YoY declines were observed in electronics, which fell 11.7% YoY (down 0.7% MoM) as well as computers, which fell 15.4% YoY (down 1.5% MoM); with the flowers/related gifts category falling the most at 31.6% YoY.
Seven categories experienced YoY price increases, including personal care, pet products, grocery, non- prescription drugs, tools/home improvement, medical equipment/supplies, and apparel.
On a MoM basis, 16 of the 18 categories in the DPI saw prices fall. Price increases were observed in only two categories including groceries and non-prescription drugs.
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