2024 holiday sales live up to the record-breaking projections

2024 Holiday Sales Surpass Record-Breaking Expectations

The eCommerce sector is currently witnessing its most successful holiday season to date, aligning with a record-setting prediction from Adobe Analytics. The recently concluded Cyber Week—from Thanksgiving to the following Monday—generated an impressive $41.1 billion in online sales across the U.S., marking an 8.2% increase compared to the previous year.

In the same timeframe last year, U.S. eCommerce sales amounted to $38 billion, reflecting a 7.8% rise year-over-year, as reported by Adobe.

Salesforce indicates that total U.S. sales (both in-store and online) increased by 7%, totaling $76 billion during Cyber Week.

Cyber Monday. Historically viewed as the day that vacationers returned to work, eager to shop online deals from their desktops, this trend has shifted dramatically with a surge in remote work and mobile shopping. Nevertheless, marketers still heavily promote substantial deals on this day, and their strategy continues to prove effective.

According to findings from Adobe Analytics, Cyber Monday 2024 achieved a record as the largest online shopping day ever, bringing in $13.3 billion in U.S. online sales, surpassing Adobe’s estimate of $13.2 billion, which represented a 7.3% increase from 2023.

The commerce media platform Criteo noted a 14% rise in online transactions during the first half of Cyber Monday compared to the previous year.

On average, Cyber Monday discounts in the U.S. reached 29%, slightly higher than last year’s figures, as reported by Salesforce.

The most significant discounts on Cyber Monday were seen in the following categories:

  • Apparel (39%).
  • Health and beauty products (34%).
  • Activewear and footwear (23%).

“Cyber Monday served as a prime opportunity for extravagant purchases, with categories like luxury handbags and clothing exhibiting remarkable growth,” remarked Caila Schwartz, Salesforce’s consumer insights director. “Throughout the weekend, retailers enhanced their discount offerings, motivating shoppers to hold out for better deals on premium items.”

“The early discounts were substantial enough for many consumers to confidently make purchases sooner during Cyber Week, transforming Cyber Monday into the final chance for shoppers to seize significant holiday discounts,” explained Vivek Pandya, lead analyst for Adobe Digital Insights.

Cyber Week. Below is a summary of online sales trends throughout the remainder of Cyber Week:

  • Thanksgiving (Nov. 28): $6.1 billion, reflecting an 8.8% YoY increase.
  • Black Friday (Nov. 29): $10.8 billion, which is a 10.2% YoY increase.
  • Combined Saturday and Sunday (Nov. 30 and Dec. 1): $10.9 billion, showing a 5.8% YoY increase.

Why it matters. Cyber Monday continues to dominate eCommerce, eclipsing both Thanksgiving weekend’s Saturday and Sunday sales together. This upward trend persists, even with the increasing prevalence of mobile shopping. Marketers remain focused on crafting promotions for this day, and consumers are keen to take advantage of these savings, regardless of their location.

It’s also noteworthy that the timing of promotions—and the overall success of holiday sales—appears to be shifting significantly earlier. The three weeks leading up to Cyber Week saw a 9.6% YoY rise in digital sales. This doesn’t detract from Cyber Week’s sales figures; rather, it seems to enhance the revenue generated during the preceding days in November.

Explore further: Holiday eCommerce begins to exceed record forecasts

Mobile usage on the rise. Mobile devices accounted for 57% of online sales on Cyber Monday, according to Adobe. Total mobile sales in the U.S. reached $7.6 billion, reflecting a 13.3% increase compared to the previous year. Back in 2019, mobile represented only 33% of sales for the holiday season.

Salesforce estimates that the mobile order share in the U.S. reached 60%, a slight decline from 61% in 2023. Its calculation for U.S. mobile sales on that day stands at $7.68 billion.

Retail marketing platform Bluecore observed that a significant majority of eCommerce website visits were conducted via mobile. Footwear retailers noted mobile traffic accounting for nearly 85% of sessions, while even the sporting goods category showed a noteworthy 59% mobile session rate.

GenAI agents. This holiday season marks the first time many retailers are introducing GenAI-enabled agents, and early results indicate they are driving substantial traffic. (AI recommendations and agents are projected to contribute to one-fifth of Cyber Week sales.)

This trend persisted during peak shopping times. Cyber Monday witnessed a 26% week-over-week increase in the utilization of GenAI and agent functionalities, as reported by Salesforce.

Explore further: AI is ushering in significant changes in holiday shopping

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