Adobe Digital Price Index: Online Prices Fall 0.2% in September
12 Outubro 2022 - 9:00AM
Business Wire
- Online prices fell 0.2% on an annual basis in September,
while rising 0.8% month-over-month
- Electronics and computer prices fell sharply, along with
modest price decreases in toys and sporting goods
- Grocery prices hit another record high, while pet products
and tools/home improvement prices remained elevated
Today, Adobe (Nasdaq:ADBE) announced the latest online inflation
data from the Adobe Digital Price Index (DPI), powered by Adobe
Analytics. In September 2022, online prices fell 0.2%
year-over-year (YoY) while rising 0.8% month-over-month (MoM). In
the month prior (Aug. 2022), online prices increased 0.4% YoY. In
July 2022, e-commerce had entered deflation for the first time
after 25 consecutive months of rising prices, dropping 1% YoY.
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Price Table (Graphic: Business Wire)
Prices for electronics, the largest category in e-commerce with
18.6% share of spend in 2021, fell sharply and decreased 11.3% YoY
(down 1.2% MoM). This is a greater YoY decrease than August (down
10% YoY) and July (down 9.3% YoY). Prices for computers also fell
significantly and decreased 14.1% YoY (down 1.9% MoM), greater than
the month prior when prices fell 12.6% YoY. The September price
decreases for electronics and computers are both record lows in
2022.
Prices for food have remained high, with grocery prices rising
14.3% YoY (up 0.8% MoM), another record YoY high and the largest
increase of any category. Prices for pet products also remain
elevated, increasing 11.8% YoY (up 0.01% MoM). Other categories
that saw prices jump in September include tools/home improvement
(up 10.5% YoY, up 0.3% MoM) and apparel (up 4.7% YoY, up 6.6%
MoM)—another major category in e-commerce, second only to
electronics.
The DPI provides the most comprehensive view into how much
consumers pay for goods online, as e-commerce expands to new
categories and as brands focus on making the digital economy
personal. Powered by Adobe Analytics, it analyzes one trillion
visits to retail sites and over 100 million SKUs across 18 product
categories: electronics, apparel, appliances, books, toys,
computers, groceries, furniture/bedding, tools/home improvement,
home/garden, pet products, jewelry, medical equipment/supplies,
sporting goods, personal care products, flowers/related gifts,
non-prescription drugs and office supplies.
In September, 11 of the 18 categories tracked by the DPI saw YoY
price increases, with groceries rising the most. Price drops were
observed in seven categories: electronics, jewelry, books, toys,
flowers/related gifts, computers and sporting goods.
Eight of the 18 categories in the DPI saw price increases MoM.
Price drops were observed across ten categories including
electronics, personal care products, jewelry, books,
furniture/bedding, toys, home/garden, appliances, computers and
sporting goods.
Notable Categories in the Adobe Digital Price Index for
September:
- Electronics: Prices were down 11.3% YoY (down 1.2% MoM),
falling faster than pre-pandemic levels when electronic prices fell
9.1% YoY on average between 2015 and 2019. Prices have fallen
consistently since Dec. 2021 (down 2.6% YoY) and accelerated in
recent months (down 10% YoY in August, down 9.3% YoY in July).
- Computers: Prices were down 14.1% YoY (down 1.9% MoM),
the biggest drop since the beginning of the COVID-19 pandemic in
March 2020. Computer prices have fallen online for 21 consecutive
months, and now outpace pre-pandemic levels when prices fell 9.2%
on average between 2015 and 2019.
- Groceries: Prices continued to surge and rose 14.3% YoY
(up 0.8% MoM), more than any other category. It is a new record on
an annual basis, following a series of record highs: 14.1% YoY
increase in August, 13.4% YoY increase in July, 12.4% YoY increase
in June. Grocery prices have risen for 32 consecutive months, and
it remains the only category to move in lockstep with the Consumer
Price Index on a long-term basis.
- Pet Products: Prices were up 11.8% YoY (up 0.01% MoM),
slightly below the record YoY high in the month prior (up 12.7% YoY
in August). Online inflation for pet products has now been observed
for 29 consecutive months, as pet ownership surged during the
COVID-19 pandemic and demand for related goods remains high.
Methodology
The DPI is modeled after the Consumer Price Index (CPI),
published by the U.S. Bureau of Labor Statistics and uses the
Fisher Price Index to track online prices. The Fisher Price Index
uses quantities of matched products purchased in the current period
(month) and a previous period (previous month) to calculate the
price changes by category. Adobe’s analysis is weighted by the real
quantities of the products purchased in the two adjacent
months.
Powered by Adobe Analytics, Adobe uses a combination of Adobe
Sensei, Adobe’s AI and machine learning framework, and manual
effort to segment the products into the categories defined by the
CPI manual. The methodology was first developed alongside renowned
economists Austan Goolsbee and Pete Klenow.
Adobe Analytics is part of Adobe Experience Cloud, which over
85% of the top 100 internet retailers in the U.S.* rely upon to
deliver, measure and personalize shopping experiences online.
About Adobe
Adobe is changing the world through digital experiences. For
more information, visit www.adobe.com.
*Per the Digital Commerce 360 Top 500 report (2021)
© 2022 Adobe. All rights reserved. Adobe and the Adobe logo are
either registered trademarks or trademarks of Adobe in the United
States and/or other countries. All other trademarks are the
property of their respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20221012005460/en/
Public relations contacts Kevin Fu Adobe
kfu@adobe.com
Bassil Elkadi Adobe belkadi@adobe.com
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