"Spent 20 Billion in 1 Minute"… US Cyber Monday Spending Hits Record High

American consumers spent a record-breaking amount on Cyber Monday (December 2).

According to Adobe Analytics, cited by CNN on the 3rd (local time), the amount spent by American consumers on Cyber Monday increased by 7.3% compared to the previous year, reaching $13.3 billion (approximately 19 trillion KRW), setting a new all-time high. This surpassed the previous record of $12.4 billion set last year within just one year.

Reuters Yonhap News

In the United States, the period from Thanksgiving to the Christmas holidays is referred to as the year-end shopping season. Among these, Cyber Monday, along with Black Friday (November 29), is one of the biggest shopping events in the U.S. It is estimated that American consumers spent $15.8 million (approximately 2.23 billion KRW) every 60 seconds during the two hours of Cyber Monday night.

Earlier, Adobe Analytics announced that online spending in the U.S. on Black Friday reached $10.8 billion (approximately 15 trillion KRW), an increase of 10.2% compared to the previous year. Online spending on Thanksgiving also increased by 8.8% year-over-year. During the so-called "Cyber Week," which spans from Thanksgiving through Black Friday to Cyber Monday, total online spending reached $41.1 billion (approximately 58.1 trillion KRW), surpassing last year's $38 billion and setting a new record.

EPA Yonhap News

CNN pointed to the activation of mobile shopping as the driving force behind Cyber Monday sales. The share of mobile shopping in this year’s online sales was 57%, a significant increase from 33% in 2019. Especially as the mobile shopping market grew, the influence of social media (SNS) influencers also increased, with the online revenue share of companies partnered with SNS influencers rising nearly threefold from 7% last year to 20% this year.

The most popular items were toys. CNN reported, "Elf on the Shelf dolls, Lego sets, and Harry Potter figures were among the best-selling items on Cyber Monday." In addition, electronics such as computers, headphones, speakers, electric scooters, and smartwatches were also popular. CNN explained that electronic products began to attract attention recently as President-elect Donald Trump announced additional tariffs of 25% on imports from Mexico and Canada and additional tariffs on China. According to the Consumer Technology Association (CTA), approximately 78% of smartphones and 87% of video game consoles were imported from China as of last year.