{"id":1076,"date":"2024-11-13T20:54:57","date_gmt":"2024-11-13T21:54:57","guid":{"rendered":"http:\/\/doublebmonograms.com\/?p=1076"},"modified":"2024-11-14T00:24:04","modified_gmt":"2024-11-14T00:24:04","slug":"adobe-digital-price-index-shows-grocery-prices-fall-for-first-time-since-2020","status":"publish","type":"post","link":"http:\/\/doublebmonograms.com\/index.php\/2024\/11\/13\/adobe-digital-price-index-shows-grocery-prices-fall-for-first-time-since-2020\/","title":{"rendered":"Adobe Digital Price Index Shows Grocery Prices Fall for First Time Since 2020"},"content":{"rendered":"<p>Adobe\u00a0 has released its latest data from the Adobe Digital Price Index (DPI), revealing that online grocery prices fell 0.1% year-over-year (YoY) in October 2024, marking the first annual decrease in grocery prices since January 2020. On a month-over-month (MoM) basis, grocery prices also declined by 0.1% from September 2024. Across the broader e-commerce landscape, overall online prices have fallen for 26 consecutive months, showing a 2.9% YoY decrease, though they rose 0.1% MoM in October.<\/p>\n<p>The price decline in the grocery category follows a period of consistent inflation in recent years. After peaking in September 2022 with a 14.3% YoY increase, online grocery prices have gradually leveled off, with this October\u2019s data marking a notable change in trajectory. This shift comes as online shopping becomes more integrated into consumers\u2019 grocery shopping habits.<\/p>\n<h3>Key Insights from the Adobe Digital Price Index<\/h3>\n<p>Adobe\u2019s DPI, which tracks online prices across 18 product categories, showed that 12 categories experienced YoY price declines in October 2024. These categories include:<\/p>\n<ul>\n<li><strong>Apparel<\/strong>: Down 9.9% YoY (down 2.5% MoM)<\/li>\n<li><strong>Toys<\/strong>: Down 4.4% YoY (flat MoM)<\/li>\n<li><strong>Computers<\/strong>: Down 3.8% YoY (up 2.9% MoM)<\/li>\n<li><strong>Furniture\/Bedding<\/strong>: Down 2.9% YoY (up 0.8% MoM)<\/li>\n<li><strong>Appliances<\/strong>: Down 2.7% YoY (up 0.9% MoM)<\/li>\n<\/ul>\n<p>In contrast, six categories saw YoY price increases, with the electronics category marking its first YoY price rise since Adobe began tracking online prices in 2014, up 0.3% YoY (up 1.5% MoM). Other categories with YoY price increases include personal care, office supplies, jewelry, non-prescription drugs, and medical equipment\/supplies.<\/p>\n<h3>Consumer Behavior and Spending Trends<\/h3>\n<p>The shift in prices has aligned with consumer spending patterns. Vivek Pandya, lead analyst at Adobe Digital Insights, noted the impact of early holiday promotions: \u201cConsumers continue to see good bargains online and are taking advantage of them, driving $82 billion in e-commerce spend for October 2024, representing a 6.7% growth from the previous year. Early holiday promotions, including the industrywide Prime Day event, contributed to the healthy demand in October.\u201d<\/p>\n<h3>Additional Observations in Key Categories<\/h3>\n<ul>\n<li><strong>Toys<\/strong>: Prices have fallen YoY for 43 consecutive months, starting in April 2021. This trend reflects long-term deflation in the category, with prices declining on average by 5.5% YoY between 2015 and 2019.<\/li>\n<li><strong>Apparel<\/strong>: October marked the 14th consecutive month of YoY declines for apparel prices, with prices down 9.9% YoY and 2.5% MoM. Previously, apparel prices had risen YoY for 13 consecutive months, peaking in July 2023 at 11.9% YoY.<\/li>\n<\/ul>\n<p><em><small>Image: Envato<\/small><\/em><\/p>\n<p>This article, &#8220;<a href=\"https:\/\/smallbiztrends.com\/adobe-digital-price-index-october-2024\/\">Adobe Digital Price Index Shows Grocery Prices Fall for First Time Since 2020<\/a>&#8221; was first published on <a href=\"https:\/\/smallbiztrends.com\">Small Business Trends<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adobe\u00a0 has released its latest data from the Adobe Digital Price Index (DPI), revealing that online grocery prices fell 0.1%<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[],"_links":{"self":[{"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/posts\/1076"}],"collection":[{"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/comments?post=1076"}],"version-history":[{"count":1,"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/posts\/1076\/revisions"}],"predecessor-version":[{"id":1077,"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/posts\/1076\/revisions\/1077"}],"wp:attachment":[{"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/media?parent=1076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/categories?post=1076"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/doublebmonograms.com\/index.php\/wp-json\/wp\/v2\/tags?post=1076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}