Everyone is complaining about the cost of living in the United States, right? Even the American population just showed their dissatisfaction with the economy at the polls, especially with the high inflation of recent years, by choosing Donald Trump to govern the country.
But consumption data from last weekend reveals that Americans’ discontent is not preventing them from shopping.
Although the 2024 year-end shopping season was expected to be strong, sales are exceeding expectations.
Increase in online sales from November 1 to 24
Consumers spent $77.4 billion online in the first 24 days of the year-end shopping season, a 9.6% increase compared to last year, according to data from Adobe Analytics. CSA (Chain Store Age) reports that during these 24 days of year-end shopping, consumers spent more than $3 billion in a single day.
The product categories with the highest growth include apparel (up 13.4% compared to 2023), electronics (up 11.4%), cosmetics (up 10.1%), and furniture/bed linens (up 7.2%).
Mobile Moment
More than half (51.6%) of online sales during this period were generated by mobile devices, totaling $39.9 billion, a 13.3% increase. Adobe expects total mobile spending by the end of the year to reach a record $128.1 billion.
Record Sales on Black Friday
Online sales on Black Friday were record-breaking, according to CSA. Consumers spent $10.8 billion online on November 29, a 10.2% increase compared to 2023, according to data from Adobe Analytics.
More than half (55%) of Black Friday online sales came through mobile devices, resulting in sales of $5.9 billion, a 12.1% increase compared to 2023.
Cyber Monday Breaking Records
Cyber Monday became the “biggest online shopping day of all time this year.” Data from Adobe Analytics reveals that consumers spent $13.3 billion online this Cyber Monday, a 7.3% increase compared to 2023, surpassing Adobe’s initial expectations of $13.2 billion. Incredibly, from 8 PM to 10 PM ET, holiday shoppers spent $15.8 million online every minute.
Successful Shopping Weekend
The Thanksgiving holiday weekend (also known as Cyber Week) boasted incredible online sales of $41.1 billion, an 8.2% increase compared to last year.
Every day of the holiday weekend saw record online spending:
• Thanksgiving day: $6.1 billion, +8.8%
• Black Friday: $10.8 billion, +10.2%
• Saturday and Sunday: $10.9 billion, +5.8%
• Cyber Monday: $13.3 billion, +7.3%
Adobe initially projected that online year-end spending (from November 1 to December 31) would reach $240.8 billion, an 8.4% increase. So far (from November 1 to December 2), online spending has totaled $131.5 billion, a 9% increase compared to 2023. This means that total spending by the end of the year could exceed expectations.
Source: Currents