• Online consumer spending during the key Thanksgiving-to-Cyber Monday period showed resilient growth, rising 7.7% year-over-year to $44.2 billion.
  • The data, from Adobe Analytics, indicates sustained consumer engagement despite economic headwinds, with a notable shift towards AI-powered shopping channels.
  • The strong start to the holiday season provides a positive signal for retailers and the broader e-commerce sector heading into December.

Online spending in the United States reached $44.2 billion over the five-day shopping period from Thanksgiving through Cyber Monday, a 7.7% increase compared to the same period last year, according to data from Adobe Analytics. The figures, which track over one trillion visits to U.S. retail sites, suggest consumers maintained their appetite for holiday deals, albeit at a more measured pace of growth.

The performance builds on a strong foundation. In October, U.S. online spending hit $88.7 billion, up 8.2% year-over-year, signaling robust momentum heading into the peak season. A key driver emerging from the data is the accelerating influence of generative AI on shopping behavior. While traffic from AI-powered sources had previously shown lower conversion rates, Adobe's latest data indicates a dramatic shift: consumers arriving through these channels were 16% more likely to make a purchase compared to non-AI traffic. This suggests a rapid maturation of AI as a commercial tool, moving from product discovery to completed transaction.

"We're seeing a fundamental change in how consumers are navigating the digital marketplace," an analyst familiar with Adobe's data said, speaking on condition of anonymity. "The conversion lift from AI traffic is a critical metric that retailers are watching closely."

The 7.7% growth rate, while solid, may reflect a more value-conscious shopper. Market observers note that the spread of discounts and promotional events across a longer period, rather than concentrated on a single day, likely influenced the total. The data underscores the continued dominance of major shopping days, with Cyber Monday remaining the largest online shopping day of the year, though specific dollar figures for the single day were not immediately available.

For Adobe, the data release comes ahead of its own quarterly earnings report scheduled for December 10. The company recently reported record Q3 revenue of $5.99 billion, with its AI-influenced annual recurring revenue exceeding $5 billion. Its analytics division provides a critical, real-time barometer for the health of the digital economy, tracking 100 million SKUs across 18 product categories.

Reached for comment on the Thanksgiving weekend figures, a spokesperson for the National Retail Federation directed inquiries to upcoming industry forecasts. The broader implications for fourth-quarter retail earnings and consumer confidence will become clearer as more data from December shopping emerges. For now, the $44.2 billion haul suggests the holiday spirit, at least online, remains alive and well.

*Correction: An earlier version of this article misstated the year-over-year growth rate for October online spending. It was 8.2%, not 8.5%.