Americans opting for cheaper options

Many online shoppers are ditching premium goods and opting for cheaper products.

CNN- — Many online shoppers are ditching premium goods and opting for cheaper products.

According to Adobe Analytics, high-priced goods across 11 categories of e-commerce have lost meaningful market share to low-cost alternatives.

For example, expensive personal care products accounted for nearly a third of the market in 2019, but now those options have just 7% of the market.

Meanwhile, the cheapest tier of personal care products doubled its market share accounting for more than half of the market.

The same trend is playing out in terms of groceries. The most expensive grocery items went from representing about a quarter of the market in 2019 to nearly 10% now.

The cheapest tier of online groceries has grown in market share to nearly half the market.

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