Consumers spent a record total of $11.3 billion on Cyber Monday, representing 5.8% growth year-over-year (YoY), according to Adobe Analytics data. As the biggest online shopping day of the season, year, and of all time, this year’s Cyber Monday saw consumers spend $12.8 million every minute during the peak hour, from 8:00 to 9:00 pm Pacific Time, it noted.
Across Cyber Week, consumers spent a total of $35.3 billion, up 4% YoY, bolstered by record online spending during Black Friday ($9.12 billion, up 2.3% YoY) and Thanksgiving ($5.29 billion, up 2.9% YoY), reflecting consumer uptake of big discounts across numerous categories.
The 2022 holiday season is off to a strong start: consumers have already spent $107.7 billion online through 28th November, up 8.7% YoY. Earlier and more frequent discounts have enabled eight days to exceed $2 billion in daily online spending, with 20 days topping $3 billion. Adobe expects spending for the full holiday season (1st November to 31st December) to hit $210.1 billion, growing 2.75% YoY.
On Cyber Monday, record spending was driven by toys, where online sales grew 684% compared to an average day in October 2022, as well as perennial favourites including electronics (up 391%) and computers (up 372%). Other categories with strong demand included sporting goods (up 466%), appliances (up 458%), books (up 439%) and jewellery (up 410%).