People looking to take advantage of online deals spent a record $10.8 billion during Cyber Monday, according to data from Adobe Analytics. That's a 15.1% increase over the $9.4 billion people spent last year, making Cyber Monday 2020 the largest online shopping day in US history.
During the "golden hours" of Cyber Monday (between 7 p.m.-11 p.m. PT), shoppers spent $2.7 billion online and hit a peak purchase rate of $12 million a minute, according to Adobe.
"Cyber Monday continued to dominate the holiday shopping season, becoming the biggest online shopping day in US history, despite early discounts from retailers," said Taylor Schreiner, director of Adobe Digital Insights. "Throughout the remainder of the holiday season, we expect to see record sales continue and curbside pickup to gain even more momentum as shoppers avoid crowds and potential shipping delays."
Black Friday, the annual shopping event the day after Thanksgiving, also broke records this year with $9 billion in online spending, according to Adobe. The holiday shopping weekend looked a bit different this year, due to the coronavirus pandemic. Many stores opted to skip the traditional opening on Thanksgiving night leading up to the big day, instead rolling out some of their best sales online for the past few weeks.
In total for the holiday shopping season, Adobe predicts US online spending will hit $184 billion, a 30% increase over last year.