Consumers spent a record $24.1 billion U.S. shopping for deals online during Black Friday and Cyber Monday this year.
Adobe Analytics (ADBE), which monitors online spending, reported that consumers spent $10.8 billion U.S. on Black Friday, up 10.2% from last year.
Adobe adds that consumers spent an additional $13.3 billion U.S. shopping online during Cyber Monday, up 7.3% from a year ago.
On average, consumers spent $15.8 million U.S. every minute during the two sales events that occur each year over the Thanksgiving holiday weekend in America.
Adobe said that it expects online spending for the entire holiday season that runs from Nov. 1 to Dec. 31 to reach $240.8 billion U.S. this year, up 8.4% from 2023.
Separately, the National Retail Federation in the U.S. said fewer people shopped in-person during this year’s U.S. Thanksgiving weekend compared with 2023 when a record number of people bought items at stores.
The Retail Federation’s data shows that an estimated 126 million people shopped in-person at stores and malls during the five-day period from Thanksgiving Day to Cyber Monday this year.
While not a record, the numbers are still strong and indicate robust spending patterns leading into Christmas this year.
Other data shows that consumers spent more overall during the U.S. Thanksgiving weekend.
According to data from credit card company Mastercard (MA), consumers spent 15% more online this year than in 2023 and 0.7% more shopping in-person at stores.
Consumers spent an average of $235 U.S. over the weekend, with almost half spent on clothing or accessories, according to the federation.
The National Retail Federation expects U.S. holiday sales to grow 3.5% this year compared to 2023.
