Cyber Monday sales jump to $11.3 billion, says Adobe By Investing.com

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Cyber Monday sales jump to $11.3 billion, says Adobe

Economy Nov 29, 2022 10:34

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Cyber Monday sales jump to $11.3 billion, says Adobe

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By Sam Boughedda

Cyber Monday online sales jumped to a record $11.3 billion, according to data from Adobe Analytics.

The rise — +5.8% above last year, according to TechCrunch — is somewhat surprising given soaring inflation and the squeeze on consumer wallets, with the number driven by demand and not just an increase in prices. The activity was said to be helped by deep discounts.

Cyber Monday is one of the biggest for retailers as part of the holiday weekend, which exceeded expectations despite the current macroeconomic challenges.

On Thanksgiving, online sales came in at $5.3B, with Black Friday online sales hitting $9.12B, topping estimates. Veterans Day saw $3.14B in online sales.

Overall, Adobe said it expects $210.1B in revenue this season. In October, Adobe (NASDAQ:ADBE) said it expected holiday season sales of $209.7B, with Cyber Monday sales expected to top $11B.

Tech Crunch also reported that Salesforce (NYSE:CRM) released its own figures, which stated $6B for Cyber Monday sales.

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