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).
Source: Chain Store Age
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 