According to data from Adobe Analytics, discount-hunting consumers purchased Pokemon cards, TVs, and air fryers on Cyber Monday, driving sales to $11.3 billion and making it the biggest US online shopping day in history.
According to data from Adobe Analytics, which gauges e-commerce performance by examining purchases at 85% of the top 100 internet retailers in the United States, sales increased 5.8% from a year ago, unadjusted for inflation.
In order to increase sales, retailers began running promotions and offering discounts as early as October. However, inflation-weary consumers had largely delayed their holiday shopping until the Black Friday weekend and Cyber Monday in order to take advantage of the best deals.
Major retailers like Target, Macy’s, and Best Buy have all hinted at a return to pre-pandemic shopping habits and the need to offer deeper discounts during the customary single-day shopping events.
According to the Adobe Analytics report, toys were the most popular items on Cyber Monday, with online sales increasing by almost eight times when compared to an average day in October 2022.
Sales of sporting goods, appliances, and books all increased by well over 400%, while sales of electronics increased by nearly five times as much.
According to the report, some of the top-selling items included Pokemon cards, Hot Wheels, PlayStation 5s, Smart TVs, and Apple AirPods.
Online payment services provider Shopify reported on Tuesday that retailers using its platform recorded record-breaking global sales of $7.5 billion from Black Friday through Cyber Monday.
As a result, it may not be a reliable indicator of the state of the economy as a whole, according to Dan North, senior economist at Allianz Trade North America, a global trade credit insurer.