Adobe Analytics Holiday Season Shopping Data - Cyber Monday Sales 2022

Adobe Data: Big Cyber Monday Sales Top Off Strong Start to Holiday Season

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American consumers spent a total of $11.3 billion on Cyber Monday, representing 5.8% growth year-over-year (YoY), according to Adobe Analytics data.

It remains the biggest online shopping day of the season and year (and of all time). In the peak hour (8:00 to 9:00 pm Pacific), consumers spent $12.8 million every minute

On Cyber Monday, online spending was driven by toys, where online sales grew 684% compared to an average day in October 2022, as well as perennial favorites, including electronics (up 391%) and computers (up 372%).

Other categories with strong demand included sporting goods (up 466%), appliances (up 458%), books (up 439%) and jewelry (up 410%). 

Top sellers on Cyber Monday included Pokémon cards, Legos, Hot Wheels, Disney Encanto, LOL Surprise dolls, Cocomelon and Hatchimals in toys.

Top gaming consoles included PlayStation 5, Nintendo Switch and Xbox Series X, while top games included FIFA 23, God of War Ragnarök, Madden 23, NBA 2K23, and Pokémon Scarlet & Violet.

Other top sellers on Cyber Monday: Smart TVs, Apple AirPods, Apple MacBooks, tablets, smartwatches, instant pots and air fryers. 

“With oversupply and a softening consumer spending environment, retailers made the right call this season to drive demand through heavy discounting,” said Vivek Pandya, lead analyst, Adobe Digital Insights.

“It spurred online spending to levels that were higher than expected, and reinforced e-commerce as a major channel to drive volume and capture consumer interest.” 

Holiday Season Off to a Strong Start

Cyber Week (Thanksgiving to Cyber Monday) brought in $35.27 billion overall, up 4% YoY. It was bolstered by record online spending during Black Friday ($9.12 billion, up 2.3% YoY) and Thanksgiving ($5.29 billion, up 2.9% YoY). 

Season-to-date (Nov. 1 to Nov. 28), consumers have spent $107.7 billion online, up 8.7% YoY.

With discounts coming earlier and more frequently, 8 days have exceeded $2 billion in daily spending online, with 20 days topping $3 billion.

Adobe expects the full holiday season (Nov. 1 to Dec. 31) will hit $210.1 billion, growing 2.75% YoY.  

Additional Adobe Analytics Insights

Discounts hit record highs: On Cyber Monday, consumers found great deals in electronics, where discounts peaked at 25% off listed price (vs. 8% in 2021).

Discounts were strong across all categories tracked by Adobe with toys at 34% (vs. 19%), computers at 20% (vs. 10%), televisions at 17% (vs. 11%), apparel at 18% (vs. 13%), sporting goods at 10% (vs. 6%), furniture at 8% (vs. 2%), and appliances at 16% (vs. 4%). 

Mobile shopping regained the spotlight: Thanksgiving set a new mobile record this year, with 55% of online sales coming via smartphones (up from 51%).

Mobile shopping remained strong through the rest of Cyber Week, driving the majority of sales at 51% for the first time (up from 46%); Cyber Monday came in at 43% (up from 40%).

The strong growth is a testament to how much mobile shopping has improved in recent months, with retailers investing in the experience. 

Buy Now Pay Later provided consumers flexibility: In an uncertain economic environment, shoppers have embraced new ways to manage their budgets. During Cyber Week, Buy Now Pay Later orders rose 85% and revenue increased 88% when compared to the week prior. 

Curbside pickup was utilized less this year: As more shoppers returned to physical stores, usage of curbside pickup remained modest during Cyber Week.

The fulfillment method was used in 13% of online orders on both Thanksgiving and Black Friday (for retailers that offer the service), down from 21% in the year prior.

On Cyber Monday, curbside pickup was used in 17% of online orders, down from 18% in 2021. 

Impact of marketing investments: Across major marketing channels, paid search remained the biggest driver of sales for retailers across Cyber Week (28% of online sales).

Direct (18%), affiliates/partners (18%), email (17%), and organic search (15%) were also major contributors.

Revenue directly attributable to social media remained at less than 5% of total sales during Cyber Week, but that share has grown 27% YoY. 

The impact of inflation   

Strong consumer spending across Cyber Week was driven by net-new demand and not just higher prices.

The Adobe Digital Price Index (DPI), which tracks e-commerce prices across 18 categories, shows that online prices have been nearly flat in recent months (down 0.7% YoY in Oct. 2022).

Adobe figures are not adjusted for inflation, but if online inflation were factored in, there would still be growth in underlying consumer demand.

Holiday Season

Last year, consumers spent a total of $204.5 billion over the 2021 holiday season, up 8.6% year-over-year (YoY).

This year, Adobe predicted holiday sales to hit $209.7 billion. But after nearly one month of data, the current trend suggests consumer spending online will beat Adobe’s prediction slightly.

Adobe provides a comprehensive view of US eCommerce spending by analyzing consumer transactions online. The analysis covers over one trillion visits to US retail sites, 100 million SKUs, and 18 product categories.

During the holiday season, Adobe offers daily updates on consumer spending on its Holiday Shopping Trends & Insights Reports here.

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