Snap anything up on Cyber Monday? According to data from Adobe Analytics, U.S. customers drained their bank accounts to the tune of $10.7 billion during the online shopping frenzy.
That’s $100 million less than folks spent during last year’s Cyber Monday, mirroring a similar kind of dip for Black Friday. But Adobe suggested it was down to shoppers spreading out their purchases over a longer period, with overall spend during the entire holiday season still on course to set a new record.
In the peak hour of online shopping on Monday (11 p.m. – 12 a.m. ET/8 p.m. – 9 p.m. PT), Adobe’s data suggested that consumers spent a total of $12 million every single minute.
The most popular tech products among online shoppers during Cyber Monday were Apple AirPods, Apple Watches, Apple Pencils, and laptops from the likes of HP, Lenovo, and Dell. The Nintendo Switch and Switch Lite also sold well, as did the Xbox Series S, Oculus Quest 2, and televisions made by Sony and Samsung, according to Adobe.
Video gamers, meanwhile, spent big on Just Dance 2022, Mario Party Superstars, Spider Man: Miles Morales, FIFA 22, and Metroid Dread.
Data suggested that online spending from Thanksgiving Day through Cyber Monday reached a total of $33.9 billion in the U.S., down 1.4% on last year.
Adobe said the fall was down to customers spreading out their shopping time and jumping on deals that started to appear weeks ago.
“With early deals in October, consumers were not waiting around for discounts on big shopping days like Cyber Monday and Black Friday,” Taylor Schreiner, director of Adobe Digital Insights, said in a message emailed to Digital Trends. “This was further fueled by growing awareness of supply chain challenges and product availability. It spread out e-commerce spending across the months of October and November, putting us on track for a season that still will break online shopping records.”
Indeed, during the whole of November, online shoppers spent $109.8 billion, up 11.9% over last year, Adobe said, adding that the shopping season has “smoothed out considerably, with e-commerce becoming a more ubiquitous daily activity.”
The company said it expects the full season — November 1 to December 31 — to hit $207 billion, marking a 10% increase on last year and setting a new record.
Adobe compiled its data by analyzing direct customer transactions online that included more than one trillion visits to U.S. retail sites across 18 product categories.