Online shoppers set Thanksgiving spending record after big discounts

(CNN) – Holiday shoppers got an early start on Black Friday this year, spending a record $6.1 billion on Thanksgiving, according to Adobe Analytics.

Holiday sales rose 8.8% year-over-year, a jump from 2023 when Thanksgiving sales rose 5.5% as consumers looked to stretch their dollar further. Toys were popular with parents, with discounts peaking at 27.2%, and electronics items, expected to be more popular this weekend as people look for TV and computer upgrades, accounted for more than 26 .5% of sales.

mobile shopping, in the meantime, also reached an all-time high. Shoppers found their purchases were more convenient to make on their phones than their computers this year, accounting for nearly 60% of online sales.

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Online sales of $3.6 billion increased 10.5% year over year.

“Cyber ​​Week is off to a good start as better-than-expected Thanksgiving discounts drove impulse purchases in categories such as electronics and apparel,” Vivek Pandya, senior analyst at Adobe Digital Insights, said in an emailed report .

This year’s price cuts prompted people to consider more expensive electronics than usual compared to previous season sales. There was also a “trade” in household appliances, sporting goods, personal care products and toys.

Shoppers also sought advice on their spending habits this year, with people clicking from chatbots to retail sites and checking out corporate partnerships – including social media influencers – more often than in 2023.

Buy now, pay later installment options also grew in popularity, driving $430 million in online spending. Adobe expects the number to increase even more on Black Friday and Cyber ​​Monday, another year-over-year increase from the payment option’s all-time high last year, as shoppers continue to look for ways to manage their budget.

Adobe expects Black Friday sales to hit further online records, predicting $10.8 billion in spending, with electronics the most popular purchase.

Meanwhile, the National Retail Federation is predicting a record total of 183.4 million people will shop between Thanksgiving and Cyber ​​Monday.