Cyber Monday Sales Jump to $11.3bn Says Adobe (ADBE)

Cyber Monday online sales jumped to a record $11.3 billion, according to data from Adobe (NASDAQ: ADBE) 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 $5.3 billion, with Black Friday online sales hitting $9.12 billion, topping estimates. Veterans Day saw $3.14 billion in online sales.

Overall, Adobe said it expects $210.1 billion in revenue this season. In October, Adobe said it expected holiday season sales of $209.7 billion, with Cyber Monday sales expected to top $11 billion.

Tech Crunch also reported that Salesforce released its own figures, which stated $6 billion for Cyber Monday sales.

By Sam Boughedda

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