US consumers spent a record-breaking $13.3 billion on Cyber Monday, shattering last year’s sales and capping off a five-day spending spree that smashed previous records. The total spending for the five days from Thanksgiving Day to Sunday reached $41.1 billion, an 8.4% increase from last year.
Despite concerns about inflation, holiday discounts proved effective in boosting spending. Online shopping on mobile devices accounted for $7.6 billion in sales, and 57% of online transactions came through mobile phones this year, up from 33% in 2019. Toys, consumer electronics, and gaming consoles were among the top-selling items.
Discounts on apparel peaked at over 23%, while TVs and computers saw discounts of almost 22%. The trend is expected to continue, with Adobe projecting discounts of up to 18% off computers through the end of the year.
The surge in spending was driven by early discounts from retailers, which encouraged consumers to shop earlier. Cyber Monday became a “last call” on holiday deals, and shoppers took advantage of it. Social media influencers and AI chatbots also played a significant role, with revenue from affiliates and partners like social media influencers increasing 7% year-over-year.
The global sales figure for Cyber Monday reached $49.7 billion, up 3% from last year, with US sales totaling $12.8 billion. The holiday season’s spending is expected to surpass $240 billion, a 8.4% increase from last year.
Source: https://edition.cnn.com/2024/12/03/business/cyber-monday-record-sales/index.html