Adobe, Shopify See Cyber Monday Spending Gains

Cyber Monday was a hit with online consumers, according to Adobe Analytics, gaining on last year’s date and surpassing Black Friday online.

E-commerce shoppers spent $10.8 billion on Cyber Monday, up 15.1% from the total last year. In contrast, digital spending on Black Friday came in at $9.03 billion, up 21.6% year over year. The Cyber Monday sales gain percentage was lower than that for Black Friday, Thanksgiving or Small Business Saturday, each of which was up over  20% year over year, but consumers may have reached the point of fatigue after strong sales gains earlier in the month leading up to Cyber Monday, and even earlier with Prime Day and other reactive major retail promotions occurring in October. The flip side to such observations is despite all the October and “Black November” initiatives, consumers still were spending more money on Cyber Monday than they did last year.

In another view on the closing days of November, Shopify reported that the Black Friday/Cyber Monday weekend, which, for its purposes includes Sunday but not Thanksgiving, generated sales of more than $5.1 billion from the brands operating on its platform around the world. From November 27 through November 30, total sales grew by 76% from the $2.9 billion reported for Black Friday/Cyber Monday weekend in 2019.

Shopify noted that it has seen holiday shopping start earlier than ever, with daily total sales increasing 19 days before Cyber Monday, nearly two weeks earlier than previous years. In fact, in the week leading up to Cyber Monday, from November 23 through November 30, sales increased by 84% versus 2019.

Apparel and accessories held the top spot for sales in stores working with Shopify over the Thanksgiving weekend, the company maintained, with health and beauty, and home and garden following.

“This has been a transformative year for commerce globally,” said Harley Finkelstein, Shopify president. “The record sales we saw on Shopify over Black Friday/Cyber Monday weekend demonstrate the power of the independent and direct-to-consumer businesses on our platform. With the center of gravity in commerce shifting from in-store to online, the pandemic has accelerated a change we have long anticipated. This multichannel shopping phenomenon is the blueprint for the future of retail, and we couldn’t be more excited by it.”