Adobe Analytics, which tracks online shopping, expects consumers to spend a record $13.2 billion on Cyber Monday, 6.1% more than last year, the Associated Press reports. That would make it the season’s — and the year’s — biggest shopping day for e-commerce.
Consumer spending for Cyber Week — the five major shopping days between Thanksgiving and Cyber Monday — provides a strong indication of how much shoppers are willing to spend for the holidays.
The National Retail Federation expects holiday shoppers to spend more this year both in stores and online than last year, but the pace of spending growth will slow slightly, the trade group said, growing 2.5% to 3.5% — compared to 3.9% in 2023.
U.S. shoppers spent $10.8 billion online on Black Friday, a 10.2% increase over last year, according to Adobe Analytics. Software company Salesforce, which also tracks online shopping, estimated that Black Friday online sales totaled $17.5 billion in the U.S. and $74.4 billion globally.
Toys, electronics, home goods, self-care, and beauty categories were among the key drivers of holiday spending on Thanksgiving and Black Friday, according to Adobe.
RetailNext, which measures real-time foot traffic in stores, reported that its early data showed store traffic on Friday was down 3.2% in the U.S. compared to last year, with the biggest dip happening in the Midwest.
Sensormatic Solutions, which also tracks store traffic, said its preliminary analysis showed retail store traffic on Black Friday was down 8.2% compared to 2023.
