US online holiday spending hits record levels despite slower growth, Adobe says

U.S. online holiday spending growth slowed in the ‍2025 season, Adobe Analytics data showed on Wednesday, even as shoppers ⁠set a record on the back of steep discounts and wider use of buy-now-pay-later plans.

Online spending from November 1 through December 31 rose ‌6.8% to $257.8 ‌billion, Adobe said. That compared to an 8.7% rise in online spending ‌during the same period last year.

Adobe said spending beat its prior forecast of $253.4 billion in online sales for the season.


Inflation and the economic fallout from President Trump's trade policies have made ​budget-conscious shoppers more cautious about discretionary ​purchases, pressuring holiday sales growth.

Cyber Week powered much of ‌the ‍growth, with higher-income consumers continuing to spend, while ‍bargains and flexible payment options drew budget-conscious shoppers ‌online.

"Competitive discounts and flexible payment options like Buy Now Pay Later also contributed to driving record spend," said Vivek Pandya, lead analyst at Adobe Digital Insights.

BNPL accounted for $20 billion in online spend during the season, up 9.8% from the prior holiday period, Adobe ‍said.

Discount-driven demand lifted purchases of higher-ticket items including electronics, sporting goods and appliances, Adobe said. The ‍company bases ⁠its estimates on ⁠direct online transactions and analyzes more than 1 trillion visits to U.S. retail websites.

Smartphones accounted for 56.4% of online shopping transactions, up from 54.5% a year earlier, Adobe said.

Retail sites also saw a 693.4% jump in traffic tied to AI-powered shopping assistants and chatbots, Adobe said, after a 1,300% increase in the prior year.