More than half of Americans joined in the shopping blitz that started last week and continued through Cyber Monday with consumers spending $16 million every minute during peak hours, according to Adobe Analytics.
Consumers spent $14.25 billion online for Cyber Monday, up 7.1% year-over-year, and above Adobe’s initial projection of $14.2 billion, according to a report Tuesday. Spending for Cyber Week, the 5-day period from Thanksgiving to Cyber Monday, hit $44.2 billion online overall, up 7.7% year-over-year. It was the second consecutive holiday season where Black Friday growth outpaced Cyber Monday with shoppers seeking early, competitive deals.
The National Retail Federation reported a record 202.9 million consumers opened their pocketbooks during the five-day seasonal shopping spree, according to the annual consumer survey released Tuesday by the NRF and Prosper Insights & Analytics. That’s up from 197 million shoppers last year and above the previous record of 200.4 million set in 2023. The total also exceeds NRF’s initial expectations of 186.9 million shoppers over the holiday weekend.
Consumers were hunting for deals, NRF President and CEO Matthew Shay said.
“This year’s record turnout reflects a highly engaged consumer who is focused on value, responds to compelling promotions, and seizes upon the opportunity to make the winter holidays special and meaningful,” he said.
Consumers used buy now, pay later options on more than $1 billion in spending. Use of the flexible payment method hit an all-time high on Cyber Monday, driving $1.03 billion in online spend (up 4.2% from lat year). Adobe reported the vast majority of BNPL transactions were on a mobile device. In an Adobe survey of more than 1,000 U.S. consumers, respondents said they were most likely to use BNPL for electronics, apparel, toys and furniture.
Klarna, a Swedish company that allows customers to pick interest-free payment plans and customizable payment options, said volume was up 45% year-over-year for Nov. 1 through Nov. 28.
Consumers turned out both in-store and online throughout the five days. A total of 129.5 million consumers shopped in-store, up 3% from 126 million in 2024. Online saw 134.9 million shoppers, up 9% from 124.3 million last year, according to the NRF.
As of the Thanksgiving weekend, 84% of consumers had already started their holiday shopping.
Similar to last year, shoppers still have a little more than half (53%) of their holiday shopping remaining.
