Consumer Behavior

Holiday weekend sales set online spending record

Photo: Adobe Stock

November 29, 2023

The Thanksgiving weekend, which includes the iconic Black Friday retail sales day, hit a record-setting online sales figure of $38 billion, according to Adobe Analytics data.

E-commerce spend spiked 7.8% from Thanksgiving through Cyber Monday, way above industry expectations of a 5.4% jump, according to a Reuters report.

The news come amidst warnings that consumer spending may not be as robust as expected given inflation factors.

Cyber Monday sales soared 9.6% and hit a record-setting figure of $12.4 billion.