Consumers remained a pillar of support for the economy despite the high interest-rate environment that has prevailed since early 2022. With the Federal Reserve implementing a substantial 50 basis-point rate cut, the benefits of which are expected to trickle down to them, consumers are forecasted to splurge on purchases this holiday season, according to early forecasts provided by Adobe on Wednesday.

Vibrant Spending: Consumer E-commerce spending will likely reach a record $240.8 billion from Nov. 1 to Dec. 31, Adobe said. This included spending online, discounting, 'Buy Now, Pay Later,' mobile shopping and more, it said. The forecast would mean an 8.4% year...