Excitement on social media around Cyber Monday is also ebbing. That translates to roughly flat growth at the midpoint compared to last year's $10.8 billion, which was a near 15% jump from 2019. Early estimates showed spending to be between $10.2 billion and $11.3 billion. Adobe now expects consumers to spend between $10.4 billion and $11.1 billion and forecast that customers could spend $2.5 billion between 7 p.m. ET, according to the Adobe Digital Economy Index. spending on Cyber Monday crossed $7 billion as of 9 p.m.
"Online sales on big shopping days like Thanksgiving and Black Friday are decreasing for the first time in history, and it is beginning to smooth out the shape of the overall season," said Taylor Schreiner, director, Adobe Digital Insights. Those attempts have pinched sales on what are traditionally some of the biggest shopping days of the year, with Adobe Analytics data over the weekend showing spending online during Black Friday fell for the first time ever.
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