Holiday ecommerce spending hits $79.7 billion before Cyber Week even begins | MarTech

"Consumers didn't wait for Black Friday or Cyber Monday to open their wallets this year. U.S. shoppers have already spent $79.7 billion online from Nov. 1 to Nov. 23-a 7.5% jump over last year's pace, according to new Adobe Analytics data. What's fueling the early spend? A potent mix of strategic early discounts, mobile convenience, flexible payment options and an unexpected digital assistant: generative AI."

"Despite the early splurge, the deepest discounts will be next week. Adobe expects Cyber Monday to feature electronics markdowns as steep as 29%, while Black Friday will see top savings on TVs (23%), toys (27%) and appliances (18%). Thanksgiving Day itself is shaping up as the best time to buy sporting goods, with average discounts of 19%. Shoppers seem to know what's coming-49% of surveyed consumers said they expect the best deals on Black Friday."

"Holiday shoppers aren't just spending more-they're also spending smarter. Adobe found that more consumers are "trading up" to higher-ticket items in categories like electronics (+32%), sporting goods (+36%) and home improvement tools (+17%). Buy Now Pay Later (BNPL) is playing a key role, driving $6.1 billion in online spending so far-a 10.3% YoY increase. Adobe expects BNPL to hit $1.04 billion on Cyber Monday alone. Notably, 82.4% of BNPL spending is occurring on mobile."

U.S. online holiday spending reached $79.7 billion from Nov. 1–23, a 7.5% increase year-over-year. The early surge reflects strategic early discounts, mobile convenience, flexible payment options and growing use of generative AI. Deeper discounts are expected next week: Cyber Monday may feature electronics markdowns up to 29%, Black Friday top savings on TVs (23%), toys (27%) and appliances (18%), and Thanksgiving Day sporting goods averaging 19% off. Consumers are trading up to higher-ticket items—electronics (+32%), sporting goods (+36%) and home improvement tools (+17%). Buy Now Pay Later drove $6.1 billion so far, with 82.4% of BNPL on mobile. AI-driven retail traffic surged 1,300% year-over-year.

Read at MarTech