Cyber Monday Shatters Records, Surpassing Black Friday Spending
Cyber Monday 2024 has shed new light on the latest Black Friday data, revealing some remarkable nuances regarding what’s motivating consumers to spend. It’s also highlighting a potential shift in how shoppers respond to Black Friday versus Cyber Monday sales events.
In fact, this year, shoppers turned out in record numbers, ready to buy on Cyber Monday, according to Facteus data. Digging in here begins to unpack why that is while uncovering some fascinating trends associated with Cyber Monday 2024.
Record-Breaking Online Sales
Cyber Monday spending soared to unprecedented levels in 2024, rising ~9% year-over-year (YoY) and:
Totaling roughly $13.3 billion in sales
Exceeding Black Friday spending by more than 23%
Marking one of the largest single-day spending increases since the pandemic era.
Notably, consumers were somewhat consistent in how they shopped, demonstrating a strong preference for e-commerce over in-store experiences. This paralleled the trend in online vs. in-store shopping for Black Friday 2024, continuing to affirm that:
Consumers may be more inclined to shop and wait for the best deals when they know another sales event is just around the corner.
Competitive deals, fast shipping, and flexible payment methods are increasingly attractive to busy, bargain-focused shoppers. That seems to be motivating far more online purchases on both Cyber Monday and Black Friday.
2024 Cyber Monday Spending: 3 Key Trends & Insights
While Cyber Monday spending outpaced Black Friday sales in 2024, there were some other significant, yet more subtle, shifts in consumer behaviors that are worth deeper analysis.
1. More Electronic, Apparel & Toy Purchases
Cyber Monday has traditionally been an event focused on discounts for electronics (hence, “Cyber” in the name).
Those roots had a strong presence during the 2024 event, as electronic items were one of the most popular purchases, in part, due to deeper discounts from retailers.
A difference this year, however, was the fact that apparel, footwear, and toy purchases also surged, with incredible YoY growth in sales, particularly from brands known for affordability, rather than luxury.
That could be taking Cyber Monday from a more niche sales event to a more mainstream one in which consumers are willing to buy based on discounts, holding out through Black Friday because they seem to equate it with Cyber Monday.
2. Increased Use of Buy Now, Pay Later (BNPL) Options
BNLP services experienced a 14% uptick during Cyber Monday, with consumers spending more than $990 million using this financing option.
While many consumers opted for Buy Now, Pay Later on high-ticket electronics and other pricier items, the rise in spending with BNPL services could also speak to the financial strain some shoppers face going into 2025.
3. Greater Use of Generative AI in Mobile Shopping Experiences
Several retailers had chatbots, AI customer service systems, and AI-powered product suggestions to support their mobile stores and digital shopping experiences. For many, that seems to have paid off, with data indicating that:
Chatbot traffic to e-commerce sites skyrocketed by roughly 1,950% on Cyber Monday.
Generative AI tools in the e-commerce space may have increased conversions and online purchases by as much as 15%.
Retailer’s price hikes could be offset by offering certain AI-powered tools in digital stores to answer questions and generally facilitate the digital shopping experience.
How Cyber Monday Fuels Holiday Shopping Momentum
Facteus data shows an undeniably strong Cyber Monday performance, possibly positioning it to replace Black Friday as the marquee sales event that truly kicks off the holiday shopping season.
Moving toward 2025, consumers have demonstrated a clear willingness to spend and shop strategically, taking advantage of extended sales events, AI tools, and more to time their purchases, so they’re getting the best deals (and “extras,” like free shipping or gifts with purchase).
While 2024 is quickly coming to a close, there’s still plenty of time for sales, spending, and all-new surprises in consumer behaviors and retail trends. Those will likely set the stage for consumer sentiment in 2025, and Facteus will continue to bring you the latest insights and transaction data in near-real time for unparalleled consumer intelligence.
About Facteus
Setting the bar higher for alternative data providers, Facteus is a national leader in transaction data, delivering unmatched insights into retail and consumer behavior. With Black Friday, Cyber Monday, and the holiday shopping season serving as pivotal retail events, Facteus data maintains an unmatched 1-day lag in data delivery, empowering leaders and key decision-makers with real-time consumer intelligence and an unequaled ability to uncover all-new trends.
From tracking Cyber Monday spending patterns to identifying key shifts in shopping behaviors, Facteus delivers reliable, expansive datasets to fuel smarter decisions and winning strategies. That can open the door to revenue-boosting competitor intelligence, powerful consumer insights, and actionable retail trends.
Discover More Data Insights & Consumer Intelligence
