Consumers came to play on the traditional kick-off to the winter holiday shopping season over the Thanksgiving weekend, making a record $10.8 billion in online purchases on Black Friday alone, up over 10% from the same day a year ago and more than doubling 2017′s spending volume, according to tracking by Adobe Analytics.
Thanksgiving Day online spending also set a new record as shoppers found time amid the festivities to drop $6.1 billion in an 8.8% uptick over the 2023 holiday.
While there were a few glimmers of yesteryear for in-person retailers — Minnesota’s massive Mall of America reported shoppers lining up Thanksgiving afternoon ahead of a 7 a.m. Black Friday opening — U.S. brick-and-mortar businesses, overall, did not enjoy nearly as much of consumers’ collective largesse as online retailers over the holiday weekend.
In-person shopping
Across the country, foot traffic at in-person retail stores on Black Friday was down by 3.2% from 2023, per a report from RetailDive, with some regions reporting more significant slowdowns like the Midwest where store traffic was down 7% from a year ago.
But even with fewer customers coming through the doors, sales at brick-and-mortar businesses on Black Friday came in slightly ahead of last year, up 0.7% according to tracking by Mastercard.
Cyber Monday was shaping up to top the charts among the five-day Cyber Week period with Adobe analysts predicting $13.2 billion flowing to e-commerce outlets. At the peak of the period’s busiest day, between 8 p.m. and 10 p.m. Monday, consumers are expected to spend at the rate of $15.7 million every minute.
Cumulatively, Cyber Week 2024 is on target to break $40 billion for the first time ever, according to Vivek Pandya, lead analyst for Adobe Digital Insights.
“Discounts have exceeded expectations beginning on Thanksgiving, and Cyber Monday has essentially become ‘last call’ for shoppers looking to get the best deals this season,” Pandya said in Adobe’s latest report. “We are on track for a Cyber Week, the five-day period between Thanksgiving and Cyber Monday, that crosses the $40 billion mark online and sets a new record for U.S. e-commerce.”
Artificial intelligence-driven chatbots and assistants are having a growing influence on how consumers shop online, according to Adobe, with Black Friday traffic to retail sites from chat bots (e.g., shoppers clicking on a link to a retail site) up by 1,800% compared to the same time last year. Usage is expected to remain elevated on Cyber Monday. In an Adobe survey of 5,000 U.S. consumers, 20% of respondents say they are turning to chat bots to find the best deals, followed by quickly finding specific items online at 19% and getting brand recommendations at 15%.
Online spending hit $118.2 billion from Nov. 1 to Dec. 1 and Adobe Analytics predicts total purchases on e-commerce sites from Nov. 1 to Dec. 31 will come in at nearly $241 billion this year, an all-time record.
Hot holiday items
Here are the products that made Adobe’s list of hottest Cyber Monday items:
Electronics
- Televisions
- Bluetooth headphones and speakers
- Digital cameras
Toys
- Lego sets
- Card and board games
- X Shot Insanity foam dart toy
- Cookeez Makery Oven
- Stuffed animals and dolls
General merchandise
- Skin care products
- Discounted apparel
- Jewelry
- Espresso machines
Video gaming consoles/games
- Xbox Series X
- Playstation 5
- Nintendo Switch OLED
- Mario Kart 8 Deluxe
- Various Zelda games
- Animal Crossing New Horizons
- Marvel Spider Man 2
- NBA 2K25