Adobe recently released new research data, which shows that online product prices in the United States decreased by 1% year-on-year in July 2022, while the year-on-year growth in June was 0.3%, and the year-on-year growth in May was 2%.


 
Most product prices are decreasing. Adobe stated that July was the first month of deflation in the e-commerce market after 25 months of continuous inflation. Among the 18 product categories tracked, 14 showed a downward trend in prices in July.
 
The most popular category among consumers in the e-commerce market is electronic products, accounting for 18.6% of total expenses in 2021. The year-on-year expenditure in July decreased significantly by 9.3%. After 14 consecutive months of growth, clothing prices have decreased by 1% year-on-year. Toy prices have also significantly decreased, with a year-on-year decrease of 8.2%, setting a record for the lowest in 31 months for this category.
 
One of the categories maintaining strong growth is food, with prices of groceries rising 13.4% year-on-year in July, reaching a historic high and being the category with the largest increase among all categories.
 
Patrick Brown, Vice President of Growth Marketing and Insight at Adobe, has put forward his own insights on e-commerce deflation. He stated that consumers' negative financial predictions have led them to deliberately reduce non essential expenses, coupled with oversupply from some retailers, resulting in a decrease in prices for major categories such as 3C electronics and clothing.
 
Adobe reported that American consumers spent $73.7 billion online in July, which is $400 million less than last month's $74.1 billion. But compared to July last year, e-commerce spending increased by 20.9%.