Americans spent a record $12 billion online on Cyber Monday, drawn in by steep discounts from Walmart, Amazon, and other retailers. This amount exceeds the prior record, which was $10.8 billion in 2024. This year’s growth in spending is a result of net new demand rather than growing pricing.
The spike in spending is attributed by analysts to multiple sources. The effect that inflation has on consumer behavior is among the most important. Because they are concerned about inflation, consumers are becoming pickier while looking for sales2. The largest savings, of up to 35%, were observed in the areas of toys, electronics, and apparel.
The prevalence of buy-now-pay-later options, which let customers stretch their credit budgets, is another important issue. In November, these features were responsible for about 8% of all online spending.
Adobe Analytics downplayed the impact of inflation. “Strong consumer spending online continues to be driven by net-new demand and not higher prices. Adobe’s Digital Price Index shows e-commerce prices have fallen consecutively for 14 months (down 6% YoY in Oct. 2023). Adobe figures are not adjusted for inflation, but if online deflation were factored in, growth in consumer spending would be even stronger.”
Vivek Pandya, lead analyst for Adobe Digital Insights, said on Friday: “The strong online sales momentum for Black Friday this year further emphasizes the staying power the major holiday shopping days continue to have. Consumers still expect the best discounts during these days and retailers are delivering, which is why we anticipate a record $37.2 billion in sales during Cyber Week, from Thanksgiving to Cyber Monday.”
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