Cyber Monday 2024: Record Online Spending Signals Strong Holiday Season
New data reveals consumers worldwide spent \(49.7 billion online during Cyber Monday 2024, capping off a massive Cyber Week that generated \)314.9 billion in global e-commerce sales. Here’s what the numbers tell us about this year’s holiday shopping trends.
Key Cyber Monday Spending Figures
- U.S. sales: \(13.3 billion (Adobe) / \)12.8 billion (Salesforce)
- Global sales: $49.7 billion (Salesforce)
- Year-over-year growth: 7.3% increase in U.S. (Adobe) / 3% globally (Salesforce)
Cyber Week Performance Breakdown
The five-day period from Thanksgiving through Cyber Monday delivered staggering results:
- U.S. total: \(41.1 billion (Adobe) / \)76 billion (Salesforce)
- Global total: $314.9 billion (Salesforce)
- Growth rates: 8.2% increase in U.S. (Adobe) / 6% globally (Salesforce)
How Major Shopping Days Compared
While Cyber Monday set records, Black Friday remained the standout performer:
- Black Friday global sales: $74.4 billion
- Black Friday U.S. sales: $17.6 billion
- Thanksgiving global sales: $33.6 billion
Methodology Behind the Numbers
Leading analytics firms provided these insights using different approaches:
- Adobe: Tracks 1 trillion visits to U.S. retail sites, monitoring 100 million SKUs across 18 categories
- Salesforce: Analyzes data from 1.5 billion consumers through its Commerce, Marketing, and Service Clouds
- Shopify: Reports $11.5 billion in global sales from its merchant network (24% YoY growth)
Notable Shopping Trends
Top Discounted Categories
- Electronics: 30.1% average discount (U.S.)
- Makeup: 40% average discount (global)
- Apparel: 39% average discount (global)
Mobile Commerce Dominance
- 57% of all sales came from mobile devices
- $7.6 billion in mobile spending (13.3% YoY growth)
Buy Now, Pay Later (BNPL) Growth
- Nearly $1 billion in BNPL transactions
- 77% of BNPL purchases made on mobile devices
Economic Context
Despite inflation concerns, Adobe’s data suggests:
- Prices have fallen 2.9% over the past 26 months
- Consumer spending remains strong despite economic headwinds
- Discounts averaged 30-40% across popular categories
What These Numbers Mean
The 2024 holiday shopping season is off to a robust start, with Cyber Week sales demonstrating:
- Continued growth in e-commerce adoption
- Mobile shopping’s increasing dominance
- Consumers’ strategic use of major discount periods
- Alternative payment methods gaining traction
As the holiday season continues, retailers can expect sustained online shopping activity, particularly in gift-focused categories like electronics and toys.
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