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Online shoppers spent a record $12.4b on Cyber Monday, a 9.6% increase from the previous year, according to Adobe Digital Insights. The peak spending period came between 10pm and 11pm Eastern Time, when consumers spent $15.7m every minute during that hour.
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"BNPL was a leading payment option for online shoppers, accounting for a record $940m of Cyber Monday spending, a 42.5% increase from a year ago. Online shoppers also used BNPL loans to purchase a broader array of products than they did on Cyber Monday 2022. The number of items purchased with a BNPL loan rose 11% from the year prior, according to Adobe."
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