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Cyber Monday has once again claimed the title of the biggest shopping day of the year, reinforcing its dominance over Black Friday and setting a new benchmark for online retail.
This year, U.S. consumers spent a record-breaking $13.3 billion on Monday, surpassing Adobe’s (ADBE-1.64%) initial expectations of $13.2 billion, and marking a 7.3% increase from last year.
Vivek Pandya, Adobe’s lead analyst, said that Cyber Monday wasn’t just about big deals — it also became a “last call” for shoppers eager to grab final savings after taking advantage of early offers on Thanksgiving and Black Friday.
A closer look at the data reveals the wide-reaching appeal of Cyber Monday’s discounts, with categories like electronics, toys, and apparel leading the charge. Toys emerged as the clear winner, with online sales soaring 680%. Popular items included Harry Potter toys, LEGO city sets, Playstation (SONY-0.45%) 5 consoles, and games like Super Smash Bros.
Cyber Monday also capped off a strong Cyber Week, with online sales totaling $41.1 billion over five days, marking a 8.2% year-over-year increase.
The surge on Cyber Monday reflects a continued shift in consumer behavior, with the convenience of online shopping taking center stage. Mobile devices are now the dominant channel. A staggering 57% of online sales on Cyber Monday — totaling $7.6 billion — came through mobile, up 13.3% from last year. Just five years ago, mobile sales accounted for only 33% of Cyber Monday’s total sales.
With inflation still affecting many households, another key trend was the rise of Buy Now Pay Later (BNPL) options, which hit an all-time high on Cyber Monday, driving $991.2 million in sales.
While the shift to online shopping is clear, brick-and-mortar stores haven’t lost all of their appeal. Locations like Apple (AAPL-6.20%), Target (TGT-7.34%), and HomeGoods (TJX+0.26%) saw a significant rise in foot traffic during Black Friday, according to foot traffic analytics firm Placer.ai. Meanwhile, traditional electronic stores saw the biggest decline in traffic this year, dropping 16.5% compared to last year.
Nonetheless, the ease of browsing and buying from the comfort of home remains a major draw, and Cyber Monday’s continued growth makes one thing clear: The future of retail is undeniably digital.