Record-High Discounts Are Expected During the Holidays Despite Inventory Gluts, Softening Consumer Spending

People look at a holiday display as the Christmas holiday approaches in New York City, on Dec. 23, 2019. David Dee Delgado/Getty Images

Adobe reported that online shopping sales in the United States will likely hit $209.7 billion during the holiday sales season, as consumers struggle with high inflation and a weakened economy.