Record-Breaking Cyber Monday Sales #

US consumers spent $13.3 billion on Cyber Monday, marking a 7.3% increase from the previous year. Despite inflation concerns, generous holiday discounts fueled a five-day spending spree totaling $41.1 billion starting Thanksgiving Day. Thanksgiving and Black Friday saw even higher year-over-year growth, driven by early retailer discounts prompting consumers to shop sooner, with Cyber Monday as the ’last call’ for deals.

Mobile shopping played a crucial role, with $7.6 billion spent via mobile devices, making up 57% of online sales. The popularity of toy purchases soared, with Elf on the Shelf dolls, Lego sets, and Harry Potter figurines among the top sellers, alongside consumer electronics like computers, headphones, and gaming consoles.

Significant discounts also piqued consumer interest, with apparel, TVs, and computers seeing peak reductions of over 23% and 22%, respectively. The continuation of discounts is projected through the year’s end, with up to 18% off on computers.

Despite proposals for tariffs on imports from Mexico, Canada, and China, which would affect most consumer electronics, demand remained strong. Consumers were also attracted by discounts on jewelry, personal care, and clothing.

The rise of mobile shopping influenced increased reliance on social media influencers, accounting for over 20% of retailer revenue on Cyber Monday, an increase from the previous year. AI chatbots, such as Amazon’s Rufus, saw a significant rise in usage, with traffic soaring by nearly 2,000% on Cyber Monday.

Additionally, ‘buy now, pay later’ programs contributed nearly $1 billion in Cyber Monday spending, predominantly through mobile devices. Cyber Monday’s impact was global, with sales reaching $49.7 billion worldwide, showing a 3% rise from the previous year. In the US alone, sales totaled $12.8 billion, reflecting a modest 2% increase.