Adobe: Cyber ​​Monday spending to reach $13.3 billion in 2024

Adobe released online shopping data for the 2024 holiday season, covering Cyber ​​Week, the five-day shopping period from Thanksgiving to Black Friday and Cyber ​​Monday.

Consumers spent a total of $13.3 billion on Cyber ​​Monday, up 7.3% year-over-year and exceeding Adobe's initial forecast of $13.2 billion. During the peak hour between 8 p.m. and 10 p.m., consumers spent $15.8 million per minute. Cyber ​​Monday remained the biggest online shopping day ever as shoppers took advantage of bigger-than-expected discounts on items such as electronics (up to 30.1% of list price), toys (26.1%), apparel (23.2%), TVs (21.8%) and computers (21.5%).

Cyber ​​Week brought in $41.1 billion in total online revenue, up 8.2% year-over-year. The growth was boosted by record online spending on Thanksgiving ($6.1 billion, up 8.8% year-over-year), Black Friday ($10.8 billion, up 10.2% year-over-year), and the weekend of November 30 and December 1 ($10.9 billion, up 5.8% year-over-year). Adobe expects sales for the entire holiday season to reach $240.8 billion, up 8.4% year-over-year.

Expect more deals in the coming weeks. After Cyber ​​Week, discounts will retreat from their peak, but through December 2024, shoppers can still find great deals on computers (up to 18% off), toys (18%), electronics (17%), TVs (17%), apparel (17%), sporting goods (16%) and appliances (14%).

Top-selling products on e-commerce include toys, electrical appliances and electronics

Toys were the clear winner on Cyber ​​Monday, with online sales up 680% compared to an average day in October 2024. Other categories with strong demand included personal care (online sales up 530%), jewelry (up 478%), appliances (up 464%), electronics (up 452%) and apparel (up 392%).

Other Cyber ​​Monday insights

• Mobile shopping dominates: On Cyber ​​Monday, 57% of online sales were made via mobile devices, accounting for $7.6 billion in sales (up 13.3% year-over-year).
• Buy Now, Pay Later (BNPL) Reaches Milestone: BNPL usage hit an all-time high on Cyber ​​Monday, driving $991.2 million in spending (up 5.5% year-over-year), as consumers sought greater flexibility in managing their holiday budgets.
• Consumers embrace generative AI: Chatbots powered by generative AI have already made their mark on the holiday shopping season.
• Social influencers are growing in prominence: Adobe tracks the extent to which marketing channels drive consumers to purchase on U.S. retail websites.

The 2024 holiday season is off to a strong start

Consumers spent a total of $131.5 billion online between November 1 and December 2, 2024, a year-over-year increase of 9.0%. Mobile shopping accounted for 53.1% of online sales so far, with total spending of $69.8 billion, a year-over-year increase of 14.1%.

The impact of inflation

Strong online consumer spending continues to be driven by net new demand rather than higher prices. Adobe's Digital Price Index shows that e-commerce prices have fallen for 26 consecutive months (down 2.9% year-over-year in October 2024).