Cyber Monday sees Americans spend $11.3 billion

Person online shopping on Cyber Monday.
Person online shopping on Cyber Monday. Photo credit Getty Images

Americans continue to spend more and more money online, with this year online shoppers spending $11.3 billion on Cyber Monday, according to data from Adobe.

The money spent this year is a 5.8% increase from Cyber Monday in 2021, when consumers spent $10.7 billion.

The increase puts an end to the first-ever decrease in consumer spending on Cyber Monday year-over-year after retailers offered fewer discounts in 2020 and 2021 due to supply-chain issues.

Adobe also provided data on the shopping weekend as a whole, with consumers spending $5.29 billion on Thanksgiving and $9.12 billion in online spending. Both were 2% more than what was seen in 2021.

From Thanksgiving to Cyber Monday, a total of $35.27 billion was spent, according to Adobe.

Vivek Pandya, an analyst for Adobe, shared that retailers made the decision to put items on “heavy discounting” because of an “oversupply and a softening consumer spending environment.” Pandya said this was the “right call this season to drive demand.”

“It spurred online spending to levels that were higher than expected, and reinforced e-commerce as a major channel to drive volume and capture consumer interest,” Pandya said.

Top-selling items included toys such as Pokémon cards and Legos, while in tech, Apple AirPods, tablets, and smart watches were hot sellers. Other categories that consumers bought a lot of included sporting goods and appliances.

But the spending isn’t done, as Adobe projects that, in total, Americans will spend more than $210 billion online this November and December.

Featured Image Photo Credit: Getty Images