The 2024 Holiday Season Breaks Online Shopping Records, Per Adobe Analytics

The 2024 holiday shopping season set a new e-commerce record with Adobe reporting a total online spending reaching $241.4 billion between November 1 and December 31, 2024. This is an impressive 8.7% increase from 2023. November accounted for $112.6 billion, while $128.8 billion was spent during December. Notably, mobile commerce played a major role by driving 54.5% of total revenue, up from 51.1% in 2023. Mobile sales hit $131.5 billion, making 2024 also a record year for mobile spending. 

Flexible payment methods and emerging technologies also experienced significant growth during this period. Buy Now, Pay Later (BNPL) generated $18.2 billion in sales, a 9.6% year-over-year increase. Of these purchases, 79.12% were made on mobile devices. On Cyber Monday alone, consumers spent $991.2 million using the flexible payment method. AI-powered shopping tools experienced major growth, with website traffic from interactions with AI chatbots surging by 1,300% compared to the previous year. This increase reflects the growing prevalence of AI in online shopping.

Affiliates and partners, including social media influencers, contributed to 17.6% of total e-commerce revenue during the holiday period, reflecting a 6% year-over-year growth. This channel outperformed retailer-driven traffic from social media, which accounted for around 5% of revenue and saw a 5.4% year-over-year increase. Influencers proved especially effective at driving conversions, with a conversion rate nine times the rate of general social media traffic. According to an Adobe survey, 37% of Gen Z consumers reported purchasing an item based on an influencer’s recommendation. 

Another highlight of the 2024 holiday shopping season was, of course, Cyber Week. From Thanksgiving Day to Cyber Monday, a record-breaking $41.1 billion was generated in online sales. These five days saw an 8.2% increase in spending from 2023. Cyber Monday alone accounted for $13.3 billion, earning its status as the largest online shopping day of the year. During the 61-day period, consumers spent over $4 billion online on 15 separate days. This is a notable increase from 11 days in 2023. The five highest-spending days included:

1. December 2 (Cyber Monday) – $13.3 billion
2. November 29 (Black Friday) – $10.8 billion
3. December 3 – $6.4 billion
4. November 28 (Thanksgiving) – $6.1 billion
5. December 9 – $5.1 billion

Adobe also highlighted industries that experienced significant growth in online sales during this time. This signals a growing consumer demand for buying online in these categories: 

1. Grocery (+12.9%)
2. Cosmetics (+12.2%)
3. Apparel (+9.9%)
4. Electronics  (+8.8%)
5. Furniture/Home Goods (+6.8%)

This year shined a light on the continued growth of e-commerce, highlighted by advancements in mobile commerce, AI-powered tools, and flexible payment options. Affiliates and influencers demonstrated their powerful impact on consumers behavior, while industries like grocery, cosmetics, and apparel showed a strong online-demand. With multiple shopping records broken, it’s clear that consumers are increasingly embracing digital channels for their shopping needs. These insights offer valuable information for e-commerce brands looking to optimize their marketing strategies. By staying ahead of consumer behaviors and leveraging partnerships, brands can position themselves for a successful new year and beyond. 

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