7,000 New Apparel Products Appear Online Each Day; Data Shows Online
Prices Drop Faster than Offline
Company Website:
http://www.adobe.com
SAN JOSE, Calif. -- (Business Wire)
Adobe (Nasdaq:ADBE) today released its first Digital Price Index (DPI)
for the apparel category, leveraging data from Adobe Analytics Cloud.
The DPI data reveals tremendous choice, volume and velocity in the
online apparel category. Nearly half of the 7,000 new apparel products
that appear online each day are targeted at women (3,150), while
one-quarter (1,750) at men and the rest to children, babies and
footwear. Nearly one-third (30.8 percent) of all spending on women’s
clothing went toward products that are one month old or less, while 18.0
percent of spending on men’s apparel was for items that were one month
old or less.
The May DPI apparel data shows prices for apparel online drop faster
than offline. The DPI found 4.3 percent YoY price deflation in May,
compared to the Consumer Price Index’s relatively flat deflation rate at
0.9 percent in May. Data also points to the biggest discounts for the
highest and lowest priced apparel online. High-end apparel, the top 25
percent most expensive items online, show a 5.5 percent drop in prices
YoY while low-end apparel, the lowest 25 percent, saw prices decrease by
7.5 percent over the same time period. Compare this to the middle 50
percent of apparel, which shows minimal deflation YoY.
“With retail chains closing stores at a record pace, we’ve been closely
watching the impact on the e-commerce world,” said Mickey Mericle, vice
president, Marketing and Customer Insights at Adobe. “For the first
time, we’re seeing that apparel sold online is clearly developed with a
specific velocity in mind, and an incredibly high turnover rate,
compared to other categories we track.”
About the DPI
Adobe leverages Adobe Sensei, AI and machine learning capabilities in
Adobe Analytics Cloud, to surface economic insights from billions of
data points. By tracking seven dollars and 50 cents out of every 10
dollars spent online with the top 500 U.S. retailers* and over six
dollars out of every 10 dollars spent online with the top 100 European
retailers** the DPI is able to analyze billions of digital transactions.
Adobe is the first company to conduct a digital-centric analysis based
on real-time access to price-paid data and actual quantities sold.
Unlike other models, Adobe Digital Insights leverages the Fisher Ideal
Price method, which uses actual quantities purchased to measure
inflation and is recognized by leading economists as the gold standard
for the calculation of inflation. Specific to the apparel data
introduced this month, the DPI utilized a new methodology, looking at
grouping products by subcategories given the fast pace of product
rotation and steep discounts retailers often offer. To produce the May
DPI, Adobe analyzed 15 billion U.S. website visits, one billion U.K.
website visits and online transactions for over 2.2 million products
sold online.
The full Digital Economy Project report for May 2017 can be found here.
* Source: Internet
Retailer’s 2016 Top 500 eGuide
** Source: Internet
Retailer’s 2016 Europe 500
About Adobe
Adobe is changing the world through digital experiences. For more
information, visit www.adobe.com.
© 2017 Adobe Systems Incorporated. All rights reserved. Adobe and the
Adobe logo are either registered trademarks or trademarks of Adobe
Systems Incorporated in the United States and/or other countries. All
other trademarks are the property of their respective owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170623005078/en/
Contacts:
Adobe
Ashley Levine, 415-832-4161
aslevine@adobe.com
Melissa
Chanslor, 415-832-5489
chanslor@adobe.com
Source: Adobe
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