Kim Kahn
👤 SpeakerAppearances Over Time
Podcast Appearances
Today is Monday, November 10th, and I'm your host, Kim Kahn.
Our top story so far, Adobe says US online spending rose 8.2% year-over-year in October to $88.7 billion.
Adobe also noted that shoppers are echoing the AI enthusiasm of investors.
Generative AI-driven traffic is rising sharply and converting better.
In October, visits from AI referral sources surged 1,200% year over year.
Those shoppers were 16% more likely to make a purchase and showed 31% lower bounce rates exploring more content and spending more time on retail sites.
In short, AI visitors aren't just browsing, they're buying.
Mobile purchases made up 51.4% of that total, climbing 11.6% from a year ago, while buy-now-pay-later transactions hit $7.1 billion, up 7.6% as consumers look for more flexible ways to manage budgets.
Spending spiked during the Amazon Prime Day event on October 7th and 8th, with discounts stretching across major U.S.
Shoppers spent $9.1 billion over the two days, helped by markdowns that peaked at 18% off listed prices.
Holiday decor led the way with online sales jumping 130%, followed by home improvement categories.
Hand tools up 83% and power tools 62%, signaling a DIY rebound that could benefit Home Depot and Lowe's.
Appliance demand was strong with refrigerators and freezers up 55%, a boost for Whirlpool and Best Buy.
Other fast-growing categories include e-readers, headphones and speakers, phone accessories, and video games.
Among active stocks, health insurers with big Obamacare marketplace businesses are among the biggest losers.
President Donald Trump said federal funding should be sent directly to people bypassing big, bad, and money-sucking insurance companies.
Centene, Oscar Health, Elevance Health, and Molina Healthcare are slumping.
Major managed care organizations like UnitedHealth, Humana, and CVS Health are also in the red.
Eli Lilly is up after Learing Partners upgraded shares to Outperform from Market Perform, saying its White House pricing deal could dramatically expand coverage for its obesity drugs.