The Adobe Digital Economy Index found consumer spending for Cyber ââMonday was down 1.4% year-on-year. And for Black Friday, it fell 1.3% year-on-year to $ 8.9 billion from $ 9 billion (2020). Even though the numbers for Thanksgiving Day did not come down, spending remained stable at $ 5.1 billion.
Consumers spent less on Black Friday and Cyber ââMonday in 2021
Given the events of the past two years, mostly due to the pandemic, the data is not so gloomy.
Adobe’s Digital Economy Index provides a comprehensive view of e-commerce in the United States. It does this by analyzing direct online consumer transactions spanning over 1 trillion US retail site visits, 100 million referrals, and 18 product categories. According to the company, that’s more than any other tech company or research organization. Based on Adobe Analytics, the data is final online shopping figures for Cyber ââMonday and Cyber ââWeek 2021.
Overall, consumers spent a total of $ 10.7 billion on Cyber ââMonday. The biggest online shopping day of the year in 2020 is just $ 100 million missing at $ 10.88 billion. Whether consumers were motivated by the good online business or chose to stay because of the pandemic, the total of $ 10.7 billion in one day is staggering.
According to Adobe, during rush hour (11:00 p.m. – 12:00 p.m. ET / 8:00 p.m. – 9:00 p.m. PT on the West Coast), consumers were spending $ 12 million per minute. Total for Cyber ââWeek, which runs from Thanksgiving Day to Cyber ââMonday, consumers spent a total of $ 33.98 billion.
Consumers took advantage of special offers
When Amazon announced Black Friday-worthy deals in October, many people took advantage of the early sales. Add in the supply chain issues, and consumers didn’t want to miss out if the issue was going to persist later into the holiday shopping season. This undoubtedly had an impact on Cyber ââWeek sales.
Taylor Schreiner, director of Adobe Digital Insights, expressed the same concern on the company’s blog. Adding: “Spread e-commerce spending over the months of October and November, putting us on track for a season that will once again break online shopping records.” “
Not counting the specials in early October, from November 1 to 29, consumers spent $ 109.8 billion online. This is an 11.9% growth from last year, delivering 22 days of online sales with over $ 3 billion.
Best sellers and trends
This year’s Cyber ââMonday bestsellers were toys (Hot Wheels, Nerf toys, Baby Alive, Paw Patrol), video games (Just Dance 2022, Mario Party Superstars, Spider Man: Miles Morales), and electronics. (AirPods, Apple Watches, Apple Pencils, laptops (HP, Lenovo and Dell).
When it comes to spending trends, Adobe reports that the final price of shopping carts on Cyber ââMonday has increased 13.9% this year. The increase is in part due to purchases of large tickets and inflation online. The report states that e-commerce prices have increased for 17 consecutive months.
Regarding the discounts, the report says it was low in 2021. For electronics, the discount has been more than 50% lower this year to -12% compared to last year when it was. -27%. The rate was similar for sporting goods with -8% this year compared to -20% last year, which is the exact figure for household appliances.
Other issues affecting shoppers were the high number of out-of-stock messages, mobile purchases accounting for 39.7% of online sales, the popularity of curbside pickup, and the slight increase in Buy Now Pay Later (BNPL ).