INDIANAPOLIS — Adobe projects consumers to spend between $10.2 billion and $11.3 billion this Cyber Monday.
Adobe has reported that consumers have already spent $4.5 billion online Saturday and $4.7 billion Sunday. These numbers signify less spending than this weekend last year, however, they are equivalent to an entire Black Friday.
“Online sales on big shopping days like Thanksgiving and Black Friday are decreasing for the first time in history, and it is beginning to smooth out the shape of the overall season,” says Taylor Schreiner, Director, Adobe Digital Insights.
“With 21 days in November driving over $3 billion in spend, what we know as Cyber Week is starting to look more like Cyber Month.”
Last year, Cyber Monday sales reached $10.8 million, according to financesonline.com, making it the biggest e-commerce day in all of history.
Needless to say, online shopping has spiked significantly since the beginning of the pandemic.
Inline with historical trends, Cyber Monday e-commerce will only continue to grow.
Adobe will be giving an update later this evening with today’s trends at 9:30 ET. We will update with more information at that time.