Dec 2 (Reuters) – U.S. shoppers spent $14.25 billion on Cyber Monday, pushing total online sales over the Thanksgiving weekend to $44.2 billion, according to an Adobe Analytics report, as consumers lapped up offers on everything from gadgets to household essentials. Spending rose 7.7% during the so-called Cyber Week – the five days from Thanksgiving […]
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US online sales surge to $44.2 billion during five-day holiday shopping, Adobe Analytics says
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Dec 2 (Reuters) – U.S. shoppers spent $14.25 billion on Cyber Monday, pushing total online sales over the Thanksgiving weekend to $44.2 billion, according to an Adobe Analytics report, as consumers lapped up offers on everything from gadgets to household essentials.
Spending rose 7.7% during the so-called Cyber Week – the five days from Thanksgiving to Cyber Monday – compared with an 8.2% increase to $41.1 billion last year, the report added.
At the beginning of the holidays, Adobe had projected online spending for the period this year to hit $43.7 billion, up 6.3% from a year earlier.
“U.S. retailers leaned heavily on discounts this holiday season to drive online demand. Competitive and persistent deals throughout Cyber Week pushed consumers to shop earlier, creating an environment where Black Friday now challenges the dominance of Cyber Monday,” said Vivek Pandya, lead analyst at Adobe Digital Insights.
U.S. online spending on Black Friday hit a record $11.8 billion, according to Adobe, which tracks shopper visits to online retail websites.
Retailers including Amazon.com, Walmart and Target rolled out attractive discounts across categories to draw both affluent shoppers eager to splurge and budget-conscious consumers looking to stretch every dollar.
Several Americans relied on AI-powered services such as chatbots to browse products and compare prices in categories like appliances, toys, video games as well as jewelry.
AI-linked traffic to U.S. retail sites increased by 670% on Cyber Monday, while during Black Friday it was up 805% compared to last year, according to Adobe data.
Strong discounts this season have also driven shoppers to purchase higher-ticket items in categories such as electronics, sporting goods, and appliances, Adobe data showed.
The use of “buy now, pay later” services hit an all-time high on Cyber Monday, driving $1.03 billion in online spending, up 4.2% year-over-year, as consumers sought breathing room in budgets squeezed by mounting household expenses.
Even as big discounts led a few customers to take on short-term debt while shopping for gifts, analysts have noted that consumers remained savvy and watched price tags carefully to avoid impulse buys this year.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Sriraj Kalluvila)