How Much Americans Spent on Black Friday and Cyber ​​Monday

According to a report from Adobe, Americans spent $13,3 billion online on Cyber ​​Monday. This is 7,3% more than in 2023. The increase in online sales can be explained by large discounts on electronics, toys, etc. Perhaps it was they who attracted consumers after weak sales in stores on Black Friday, writes Reuters.

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Black Friday Failure

Consumers spent 7,3% more on Cyber ​​Monday this year than they did on the same day in 2023, according to Adobe, which tracks devices running its software to help drive more than 1 trillion visits to U.S. retail sites. That means shoppers spent more on Dec. 2, Cyber ​​Monday, than they did on Nov. 30, when online sales totaled $10,8 billion and in-store sales were up just 0,7% from last year’s Black Friday.

Retailers are wooing wary U.S. shoppers with push notifications, emails and other alerts promoting heavily discounted cosmetics, electronics, toys, clothing and more.

On the subject: Four things to buy on Cyber ​​Monday

With just 23 days left until Christmas, the price reductions were bigger this year, and shoppers were looking forward to days with more deals, experts say. For example, Target offered 1 percent off thousands of items, including video games, home goods and more, as part of its two-day Cyber ​​Monday promotion that began Sunday, Dec. 50.

Sales at brick-and-mortar stores rose just 0,7 percent year-on-year on Friday, according to preliminary estimates from payment system Mastercard. However, data company Facteus said sales were actually much lower.

Artificial intelligence helps find discounts

Online retailers like Walmart and Amazon are relying on generative AI features for customer service and search, opening new tabs to make it easier for shoppers to find products on websites and mobile apps.

Pittsburgh resident Cheyenne Behrens, 29, is using Amazon’s generative chatbot Rufus to track prices on baby products and electronics this holiday season. Amazon launched the AI ​​chatbot in February to provide customers with recommendations and detailed product information based on its entire product catalog.

"I found using Rufus on Amazon to be extremely helpful in determining whether a so-called offer was actually an offer," Behrens said.

For example, she tracked the price of a Pack 'n' Play portable playpen and waited for the right moment to buy. The price started at $90 before the holidays, briefly rose to $120, and then dropped back to $90. So the "discount" was actually a scam.

Kayla Schwartz, director of consumer insights at cloud computing company Salesforce, which tracks global shopping data for more than 1,5 billion consumers, said GenAI tools such as chatbots to answer basic questions from online shoppers have helped retailers protect their profits despite rising costs.

As of November 30, retailers using GenAI’s customer service tools have seen a 15% increase in purchases, according to Salesforce estimates. Higher conversion rates are “game-changing,” Schwartz said.

Adobe's preliminary estimates projected U.S. consumer Internet spending to be between $13,2 billion and $13,5 billion in a single day on December 2.

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On Cyber ​​Monday, traffic to retail sites from chatbots or shoppers clicking on a website link increased 1950% from Black Friday to the weekend, Adobe reported.

With many Americans carrying more debt these days, many are turning to third-party buy-now-pay-later services, with spending on those services reaching $991 million, according to Adobe.

Thus, big discounts and the convenience of online shopping made Cyber ​​Monday 2024 the most successful in history. The use of modern technologies such as AI allowed retailers to increase conversion and maintain profitability.

Read also on ForumDaily:

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