This 2024 holiday shopping season is breaking new records on online sales. Cyber Monday is likely to be the biggest shopping day of the year. The total amount in online sales for that particular day will be over$13.2 billion according to Adobe Analytics, an increase of 6.1 percent as compared to last year.
These are part of broader rising e-commerce dominance led by convenience, smarter options on shopping, and innovations in forms of mobile apps, AI, and chatbots.
Online sales had risen by 10.2% on record-breaking $10.8 billion in a seasonally slow Black Friday weekend kickoff for holiday shopping, while the data reflected over 1 trillion visits to US retail websites and more than 100 million products across 18 categories that were accessed. It shows a basic change in the direction of consumer behaviour where traditional in-store rush in stores has moved toward convenience and is browsing and buying products online.
According to Adobe’s lead analyst, Vivek Pandya, the digital sales on Black Friday have grown dramatically over the last five years. While the shopping holiday was traditionally anchored by physical store visits, the rise of mobile shopping, AI-driven recommendations, and enhanced customer service via chatbots has reshaped the way consumers shop.
With Black Friday already surpassing all previous records, Cyber Monday is expected to bring in $13.2 billion in online sales, making it the biggest shopping day of the year. The 6.1% growth compared to 2023 reflects the change toward increased online spending by the consumers as they look for convenience and the best deals available during the extended holiday shopping period.
Adobe’s cumulative shopping days forecast for Thanksgiving, Black Friday, and Cyber Monday predicts total sales of $40.6 billion, accounting for nearly 17% of total holiday sales. A large part of this growth can be attributed to the rising popularity of “buy now, pay later” (BNPL) options, which accounted for $686 million in Black Friday online sales.
Predicted toy sales rose dramatically for the year, with online sales more than 622% higher during the month of October in relation to past years. Some of the trending top-of-wish-lists sales included PlayStation 5 units, Bluetooth speakers, the Harry Potter Lego sets, skincare packages, and even smartwatches. Digital sales also surged in various jewellery, electronics, and appliance and personal care markets among more.
The upcoming holiday season would be a significant one for retail, with the future of shopping firmly cemented in the digital world, and consumers take advantage of greater convenience, variety, and flexibility in shopping and spending.
