Consumers spent $220.1 billion online during the recent holiday season, up $10.4 billion on the previous year, a growth of almost 5%. That's an all-time record, as measured by Adobe Analytics (based on over one trillion visits to U.S. retail sites). Buy Now Pay Later transactions also broke records. Another driver was major discounting by retailers.
Dig deeper: Consumers look to use AI for holiday shopping Breaking down the discounts. Electronics rang the bell for discounts peaking at over 30% of list price. Toys and apparel were not far behind. As much as 65% of the record holiday spending was driven by those three categories, plus furniture and groceries.
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