Cyber Monday Shoppers Expected To Set Buying Record

Cyber Monday shoppers are expected to set a buying record as the deals keep piling up to pique customer interest in gifts for the holiday season.

According to Adobe, retailers will score big as shoppers use Cyber Monday deals to ensure their holiday shopping needs are taken care of while saving money in the process. This year’s top-level insights demonstrate an increased online shopping presence and a preference for flexible payment options like buy now, pay later (BNPL).

This season, the software company predicts that there will be a total of $118.2 billion spent between Nov. 1 and Dec. 1, 2024. It also estimates that $62.3 billion will be spent using mobile devices and approximately $8.4 using BNPL options. Adobe forecasts that overall, consumers will spend a record $241 billion online during the 2024 holidays, up 8.4% from 2023.

The difference between 2023 and 2024 spending is vast. Adobe’s chart shows that on Black Friday, consumers spent $9.8 billion in 2023, while they spent $10.8 billion in 2024.

Deep Retailer Discounts Will Continue Through Cyber Monday, Adobe Predicts

"Adobe Analytics, which tracks online shopping, expects consumers to spend a record $13.2 billion on Monday." https://t.co/CzJ1xaMUNU

— Fast Company (@FastCompany) December 2, 2024

Adobe forecasts that retailers will continue to provide deep discounts across major retail categories to encourage higher spending through Cyber Monday. If customers believe they are saving money, they will spend their hard-earned dollars on a selection of different items instead of one big splurge around the holiday gifting season.

Throughout October and November, the company revealed that retailers provided deep customer discounts. But these savings were expected to be even more significant during the “Cyber 5” period between Thanksgiving Day and Cyber Monday.

Thus far, the deepest discounts are on electronics, followed by toys and apparel, according to Adobe. Many of these purchases will be made using the BNPL option, allowing for the cost of the items to be spread out over time. Adobe forecasts BNPL spending will peak on Cyber Monday with a potential new single-day record of $993 million.

Adobe also shared that some of the hottest items on Thanksgiving this year included the Dyson Airwrap, Espresso Machines, LEGO sets, the video game Madden 2025, and finally, fitness trackers.