Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Cyber Monday sales jump to $11.3 billion, says Adobe

Published 2022-11-29, 10:34 a/m
© Reuters

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.