Monday Americans Spent $13.3 Billion in Biggest Cyber Monday Ever

"$15.8 million every 60 seconds. That's how much US consumers spent in two hours on Monday night," reports CNN, "capping off a five-day spending spree that smashed previous records."


U.S. consumers spent a total of $13.3 billion on Cyber Monday, up 7.3% from the previous year, according to Adobe Analytics... Consumers spent a record $41.1 billion across the five days beginning Thanksgiving Day, according to Adobe. "While Cyber Monday remained the season's and year's biggest online shopping day, year-over-year growth was stronger on both Thanksgiving and Black Friday," Vivek Pandya, lead analyst at Adobe Digital Insights, said in a statement... The company's data projects that holiday spending from November 1 to December 31 will surpass $240 billion, up 8.4% from the previous year.

The record sales on Cyber Monday were boosted by US consumers shopping on their mobile devices, which accounted for $7.6 billion in spending. This year, 57% of online sales came through a mobile device, compared to 33% in 2019, as shopping on mobile phones has surged in popularity... Buy now, pay later" programs also contributed nearly $1 billion in spending on Cyber Monday, a record high. About 75% of these types of transactions occurred through a mobile device.

Cyber Monday shopping wasn't just confined to the US, either. Global sales reached $49.7 billion, up 3% from the previous year, according to data from Salesforce.

The top-selling items included consumer electronics like the PlayStation 5, Xbox Series X and Nintendo Switch OLED, the article points out (adding that "About 78% of all consumer smartphones and 87% of consoles were imported from China in 2023, according to a report from the Consumer Technology Association.")
More interesting statistics from CNN:

"Discounts on apparel peaked at just over 23% off, while TVs and computers peaked at almost 22% off, according to Adobe. And the discounts might last: Adobe projects discounts of up to 18% off computers through the end of the year... "
"For US retail sites, the share of revenue from affiliates and partners like social media influencers was 20.3% on Cyber Monday, up almost 7% from the previous year. "
"Additionally, companies employed AI chatbots to assist consumers, like Amazon's Rufus. Traffic to retail sites from chatbots increased by nearly 2,000% on Cyber Monday, according to Adobe."

Read more of this story at Slashdot.