By Matt Egan, CNN Business

NEW YORK – Online shoppers will be offered record-setting discounts this holiday season as retailers attempt to entice inflation-weary consumers to buy, according to projections released Thursday by Adobe Analytics. And the company predicts the strategy will work, with online holiday sales climbing almost 5% above last year.

Retailers are poised to offer up to 35% off listed prices this holiday season, with the deepest discounts applied to toys, electronics and apparel, Adobe said in its annual holiday forecast.

The company expects consumers to seize on these deals, and spend aggressively even as concerns about rising costs and the health of the economy continue to linger.

Consumers will likely spend $221.8 billion via online shopping between November 1 and the end of the year, according to Adobe. That would represent solid growth of 4.8% year-over-year, an acceleration of the 3.5% growth in 2022.

So what will people be buying? Adobe says the hottest sellers this season will include LEGO Minifigures, Kanoodle 3D, Barbie the Movie products, PlayStation 5, Xbox Series X, Madden NFL 24, iPhone 15 models and Birkenstock Bostons.

Where are the deepest discounts

Discounts for toys are seen peaking at 35% off listed