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Cyber Monday Spending Falls as Deep Discounts Fail to Materialize

Shoppers spent about $10.7 billion Cyber Monday, a 1.4% year-over-year decline over 2020 totals, according to data from Adobe.
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U.S. shoppers spent a total of $10.7 billion on Cyber Monday, the digital version of Black Friday that kicks off the digital holiday shopping season, according to data from Adobe. 

The total was down 1.4% year over year as Americans weren't trapped indoors the same way they were this time last year during the middle of the Covid-19 pandemic. 

“With early deals in October, consumers were not waiting around for discounts on big shopping days like Cyber Monday and Black Friday,” said Taylor Schreiner, director at Adobe Digital Insights. 

“This was further fueled by growing awareness of supply chain challenges and product availability. It spread out e-commerce spending across the months of October and November, putting us on track for a season that still will break online shopping records.” 

"The big retailers have been spreading out the holiday shopping season for the years and the lingering impact of the pandemic has accelerated that," said TheStreet Managing Editor Daniel Kline, who has been covering the retail space for more than a decade. 

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"Spreading out the sales makes sense given the current supply chain woes, but it also allows for lower discounts and fewer low-margin doorbuster-type sales."

The data come from Adobe Analytics, which analyzed more than one trillion visits to U.S. retail sites and direct consumer transactions online.

In November, through Monday, consumers have already spent $109.8 billion online, a nearly 12% year over year jump. 

Shoppers went online to buy toys with sales up by nearly 11 times preseason levels in September 2021, gift cards (up by seven times), books (also up by seven times) video games (up by six times) and baby/toddler products (also up by six times).

Apple  (AAPL) - Get Apple Inc. Report was a big Cyber Monday winner with the company's AirPods, Apple Watches and Apple Pencils all being among the Cyber Monday top-sellers, according to Adobe data. 

The year over year decline in sales might have been due to the fact that discounts for electronics were less than half what they were last year, with appliances and sporting goods discounts also being about half of what they were a year ago.