US Holiday Shopping Spree Shatters Records As Cyber Monday Hits $13.3B
According to Adobe Analytics, US shoppers unleashed an unprecedented spending spree, dropping $15.8M per minute during Cyber Monday’s peak hours. The five-day shopping extravaganza from Thanksgiving through Cyber Monday shattered records, with $49.7B in global online sales, according to Salesforce. Following a record-breaking Black Friday, this news shows that consumers still have deep wallets despite lingering inflation concerns.
- Top-selling categories spanned toys and electronics, with Lego sets, gaming consoles, and Elf on the Shelf filling carts. Discounts peaked at 23% on apparel and 22% on TVs and computers.
- Mobile shopping represented 57% of online purchases, compared to just 33% in 2019. Social media influencers drove 20.3% of retail site revenue, up 7% from last year.
The digital revolution: As brick-and-mortar traffic declined by 8%, online shopping innovations are taking center stage. Adobe reported a nearly 2,000% spike in traffic from AI chatbots, which have become essential tools for shoppers. However, worries about looming tariffs cast a shadow over future spending, with Best Buy’s CEO warning that 87% of gaming consoles and 78% of smartphones were imported from China in 2023. Even Santa might need to consider on-shoring his workshop.
