US consumers spent $34 bn online from Thanksgiving Day through Cyber Monday

The US consumers spent a total of $33.9 billion online, from Thanksgiving Day through Cyber Monday, down 1.4 per cent (on-year) as Black Friday dipped 1.3 per cent at $8.9 billion vs $9 billion last year while Thanksgiving Day online sales stayed flat at $5.1 billion.

According to Adobe Digital Economy Index, consumers spent a total of $10.7 billion on Cyber Monday this week.

"With early deals in October, consumers were not waiting around for discounts on big shopping days like Cyber Monday and Black Friday," said Taylor Schreiner, director, Adobe Digital Insights.

"This was further fueled by growing awareness of supply chain challenges and product availability," Schreiner said in a statement.

On Cyber Monday, online spend was driven by categories including toys, gift cards, video games and baby/toddler products.

So far this season (November 1 to November 29), consumers spent $109.8 billion online, growing significantly at 11.9 per cent over last year.

It means that 22 days have now exceeded $3 billion in online spend, a new milestone. In 2020, only 9 days topped $3 billion at this point.

Adobe expects the full season (November 1 to December 31) to hit $207 billion at 10 per cent YoY growth -- a new record.

Based on Adobe Analytics data, the analysis covers over one trillion visits to US retail sites, 100 million SKUs (stock-keeping units), and 18 product categories.

--IANS

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