(Bloomberg/Spencer Soper) — Black Friday has supplanted Cyber Monday in online spending growth for the second year in a row, according to Adobe Inc., with deal-hunting consumers getting an early start on their holiday shopping.
US shoppers spent $14.25 billion online during Cyber Monday, up 7.1% from a year ago, compared with a 9.1% increase on Black Friday. The firm said spending in the five-day period from Thanksgiving to Cyber Monday totaled $44.2 billion, up 7.7% from a year ago.
“Competitive and persistent deals throughout Cyber Week pushed consumers to shop earlier, creating an environment where Black Friday now challenges the dominance of Cyber Monday,” said Vivek Pandya, lead analyst at Adobe Digital Insights.
More than half of consumers shopped exclusively or mostly online during the five-day period, according to a survey released Tuesday by the research firm Numerator. That was good news for Amazon.com Inc., which attracted 87% of those surveyed, followed by Walmart Inc., according to Numerator. China-linked online discounters Temu and Shein, heavily exposed to the May closing of a tariff loophole on small packages, lost momentum.
Cyber Monday remains the biggest online spending day of the year at $14.25 billion, with Black Friday narrowing the gap at $11.8 billion.
Shoppers started out slower than expected on Cyber Monday but ramped up as the day progressed.
Salesforce Inc., which tracks transactions of 1.5 billion consumers, said global online sales, mostly in Europe, rose 7% year over year, slightly faster than the 6% pace in the US. Online holiday spending typically rises more quickly in the US, according to Caila Schwartz, Salesforce’s director of consumer insights. On Monday, she attributed this year’s result to tariff-stung US shoppers and the economic boost European countries are seeing from a series of interest rate cuts that began last year.
The trade war, government shutdown and weakening labor market are weighing on consumer confidence and making it hard to predict how the holiday shopping season will go this year. Analysts have said the relatively robust showing so far suggests wealthier Americans are spending lavishly even if their less well-heeled counterparts are shopping more carefully.
(Updated with survey results on where people shopped in fourth paragraph)
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