Though online sales were most likely down on Cyber Monday this year thanks to supply chain challenges, data shows that overall U.S. consumer confidence is strong, reports U.S. News and World Report.
“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.
Cyber Monday spending was up to $7 billion as of 9 p.m. EDT, according to the Adobe Digital Economy Index. Adobe estimates total spending to be between $10.4 billion and $11.1 billion once all figures are tallied. That number is virtually equal to last year’s Cyber Monday sales of $10.8 billion.