Cyber Monday Breaks Records with $13.3 Billion in US Sales

US consumers spent a staggering $13.3 billion on Cyber Monday, marking a 7.3% increase over last year, according to Adobe Analytics. This surge in spending capped off a record-breaking five-day holiday shopping spree, where total sales reached $41.1 billion.

Despite lingering concerns about inflation, the holiday season’s early discounts triggered an increase in consumer spending. Adobe’s data shows that online spending grew by 8.8% on Thanksgiving Day and 10.2% on Black Friday, as early deals encouraged shoppers to buy sooner than usual. Cyber Monday, however, remained the year’s biggest online shopping day.

Cyber Monday Breaks Records with $13.3 Billion in US Sales

Mobile shopping played a significant role in this year’s record sales. Mobile devices accounted for $7.6 billion in spending, with 57% of online sales made through phones—up from 33% in 2019. Popular purchases included toys, such as Elf on the Shelf dolls, Lego sets, and Harry Potter figurines, as well as consumer electronics like laptops, headphones, and gaming consoles.

Discounts were also a major driver of Cyber Monday’s success. Apparel saw discounts of over 23%, while TVs and computers were offered at nearly 22% off. Adobe projects that discounts will continue through the end of the year, particularly for computers.

In addition to traditional discounts, the rise of “buy now, pay later” services contributed nearly $1 billion to Cyber Monday sales, with 75% of transactions occurring on mobile devices. Social media influencers and AI chatbots also played key roles in driving traffic to retail sites. Revenue from affiliates, including influencers, surged by 7% year-over-year.

Global Cyber Monday sales reached $49.7 billion, up 3% from the previous year, with US sales hitting $12.8 billion, according to Salesforce. Adobe forecasts holiday spending from November 1 to December 31 will exceed $240 billion, reflecting an 8.4% increase from 2023.

Also, for analysis and updates, visit FXAN to stay informed on the latest news and insights. Also, follow us on Instagram.