Americans ramped up their online shopping this past holiday season, splurging on a record-setting $222 billion worth of electronics, toys and other items. The spending haul between November 1 and December 31 marks a 4.9% increase from the previous holiday shopping season, according to an Adobe Analytics report released Thursday. Adobe previously reported that shoppers spent a record $12.4 billion online shopping on Cyber Monday alone. Adobe said online shopping discounts hit record highs this holiday season, peaking at 31% off list price for electronics, compared with 25% in 2022. That means the increase in spending this holiday season was driven by rising demand, not price fluctuations.

Source: CNN January 04, 2024 21:17 UTC