This Cyber Monday, consumers spent upwards of $10.7 billion collectively on deals from their favorite online retailers. However, according to data from Adobe Analytics, this total marks a 1.4% decrease when compared to the lowest amount spent during Cyber Monday on record.
Adobe Analytics initially began tracking e-commerce in 2012, and analyzes more than 1 trillion visits to retailer websites. This year’s tally for Cyber Monday marks the first time that the company has recorded a slowdown in spending on a major shopping day during the holiday season.
Last Cyber Monday wasn’t much different either, with consumers spending about $10.8 billion online. Last year was more predictable, however, as we were still in the first year of the Covid-19 pandemic, and most people weren’t leaving their house or in a position to spend a lot of money for the holidays.
Adobe is still expecting that throughout the rest of this year’s holiday season, online retailer’s will see a relative increase in e-commerce activity. More shoppers have been opting to spread out their orders when it comes to holiday shopping to make it easier to pay off certain gifts.
Between November 1st and Cyber Monday consumers in the US alone have spent about $109.8 billion online, which is an 11.9% increase from last year’s numbers, and the previous year’s. The company is anticipating digital sales to reach $207 billion by the end of the year, which would represent a record hain of 10%.
Adobe reported that the Cyber Monday sales stats aren’t exactly surprising either. As previously mentioned, more shoppers have been spreading out the days in which they spend their money, as opposed to waiting for “Cyber Week” (Thanksgiving, Black Friday, Small Business Saturday and Cyber Monday) to get all their shopping done.
Many larger online retailers have seen these patterns, and have even gone as far as to offer Black Friday deals all autumn and winter. Adobe reported that retailers made about $8.9 billion in online sales this Black Friday, and about $5.1 billion in online sales on Thanksgiving Day.
According to data from Sensormatic Solutions, another retail tracker, shopper traffic on Black Friday was up 47.5% when compared to last year’s numbers, however, it was still down 28.3% when compared to 2019/pre-pandemic levels.
“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 at Adobe Digital Insights.
Adobe predicts that online retail trends will continue to fuel the market throughout the holiday season as deals on major retail websites like Amazon, Target, and Walmart continue to push “Black Friday Deals” throughout the entire holiday season.
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at firstname.lastname@example.org.