Cyber Monday is predicted to see a total of $10.2 - $11.3 billion in online spending, according to Adobe.
The overall online spending on Black Friday decreased to $8.9 billion for the first time, as per the report. American shoppers spent $6.6 billion as of 9 p.m. Eastern Time, on track to reach a projected total of $8.8 billion to $9.2 billion.
Thanksgiving Day spending was flat $5.1 billion, making 2021 the first year in which both Thanksgiving and Black Friday did not record a YoY gain. However, with consumers shopping early this season, the US sales for the first three weeks of November were up 10% YoY, according to Salesforce.
The total online spend for the holiday season is forecasted to increase 10% YoY to $207 billion and set a new shopping record for the period November 1 to December 31. Toys from brands like Barbie and Star Wars were the most popular products sold online during Black Friday. Kitchenware like air fryers and Instant Pots were also popular among online Black Friday shoppers. Revenue for Big Box retailers increased 22% since October.
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