Cyber Monday online shoppers spent $12.4 billion

In the face of persistent inflation concerns, the online shopping landscape has not just weathered the storm but thrived, showcasing a remarkable 9.6% surge in consumer spending on Cyber Monday, totaling an impressive $12.4 billion, as reported by Adobe Analytics. The resilience extends beyond a single day, with a robust 7.3% increase in online expenditures from November 1 to November 27, culminating in a staggering $109.3 billion.

The post-Thanksgiving shopping frenzy, encompassing Thanksgiving to Cyber Monday, witnessed a substantial 7.8% uptick in online sales compared to the previous year, reaching a noteworthy $38 billion. Noteworthy spikes during this period include a 7.7% boost during Thanksgiving weekend, reaching $10.3 billion, while Thanksgiving Day and Black Friday saw increases of 5.5% and 7.5%, amassing $5.6 billion and $9.8 billion, respectively, according to Adobe’s insightful analysis.

Delving deeper into consumer behavior, the buy now, pay later trend experienced a remarkable 17% surge from 2022, resulting in a substantial $8.3 billion in online sales from November 1 to November 27. Adobe’s forward-looking prediction adds another layer of excitement, foreseeing this month as a record-breaking period for installment payment transactions. The numbers speak for themselves, painting a picture of a resilient and thriving online marketplace amidst economic uncertainties.