US consumers spent a total of $211.7 billion online from 1st November to 31st December, growing 3.5% year-over-year (YoY) and setting a new record for e-commerce, according to Adobe Analytics.
While Cyber Week (the five days between Thanksgiving and Cyber Monday) was a key contributor, driving $35.3 billion in online spend and growing 4% YoY, shoppers hit the buy button all season long: 38 days surpassed $3 billion in daily spend this holiday season, on par with last year. For comparison, only 25 days in the 2020 season surpassed $3 billion.
The resilient holiday season was driven by demand for toys, video games and apparel/accessories. Sub-categories that saw strong demand include watches, gift cards, cosmetics, outdoor grills, speakers and smart home products.
Vivek Pandya, Lead Analyst, Digital Insights at Adobe, said, “At a time when consumers were dealing with elevated prices in areas such as food, gas and rent, holiday discounts were strong enough to sustain discretionary spending through the entire season. The big deals drew in consumers and drove volume, helping retailers who were challenged with oversupply issues, particularly in categories such as apparel, electronics and toys.”