'Despite inflationary pressures and the rising cost of borrowing, there was not a material decline this year in early holiday shopping,' Adobe contends in wrap-up of October online shopping.
Consumers so far this holiday season have spent roughly the same online as they had at this time last year, despite concerns that higher prices might crimp demand, Adobe Inc. reported Thursday.
See also: The holiday-shopping season has a different problem this year than last — and it could lead to some deals Read: Inflation should send holiday sales to a record high, even as retailers scale back seasonal hires
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