Global Online Spending Reaches $49.7 Billion on Cyber Monday

Forex - In the first critical week of the holiday shopping season, consumer spending figures have been released for Cyber Monday, the third largest online spending day, following Thanksgiving and Black Friday.

On Monday, many American consumers returned to work after the long weekend, and online shopping continued with significant discounts of up to 40% on certain products. Adobe reported that shoppers spent $13.3 billion online in the U.S. that day. More sobering figures from Salesforce indicated that U.S. consumers spent $12.8 billion, while global spending reached $49.7 billion.

Adobe's figures showed a 7.3% increase compared to 2023, while Salesforce tracked global growth at 3% and U.S. growth at just 2%.

On an international scale, the amount spent on Monday fell significantly short of Black Friday's online enthusiasm. Salesforce announced that shoppers worldwide set a record by spending $74.4 billion that day, with $17.6 billion spent in the U.S. (Thanksgiving saw $33.6 billion spent online globally).

Despite this, the figures indicate an overall increase in online sales during the holiday shopping season. Adobe noted that the total amount for the U.S. rose by 7% compared to 2023, where consumers spent $12.4 billion. They also described Cyber Monday as "the largest online shopping day of all time" according to their data.

Cyber Week, the five days between Thanksgiving and Cyber Monday—though it could be argued that the daily super spending justifies its designation as a week—brought in $41.1 billion, an 8.2% increase compared to 2023. Adobe predicts that the entire holiday season will result in $240.8 billion in the U.S., reflecting an 8.4% increase.