Consumers spent a record $6.4 billion online during Thanksgiving, driven in part by a surge in discounts.
Spending increased 5.3% compared with a year ago, as shoppers took advantage of Cyber Week deals that came in stronger than expected, according to Adobe Analytics. Adobe didn’t project the levels of discounts experienced on Thursday until later in Cyber Week.
Discounts on electronics reached as much as 28% off the listed price. Following closely behind were discounts for apparel, which peaked at 25%, according to Adobe. Computers were as much as 23% off while toys were as much as 27% off and appliances were 19% off.
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There were deals for televisions (21% off), sporting goods (20% off), appliances (19% off) and furniture (18% off), Adobe reported.
Buy now, pay later payment plans also drove an uptick in spending. Buy now, pay later plans, which allow consumers to purchase something immediately and pay for it over time in smaller, often interest-free installments, accounted for $447.7 million in online spending, up 4.1% compared with a year ago.
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“The magnitude of discounts was the big story on Thanksgiving yesterday, as retailers leaned into delivering great deals to drive consumer demand online,” said Vivek Pandya, Adobe Digital Insights lead analyst. Pandya also credited “impulse-led mobile shopping and the use of generative AI which assisted shoppers in locating the best deals” to drive higher-than-expected overall spend on Thanksgiving.
The Thanksgiving spending trends covered by Adobe highlight how much shoppers are relying on deep discounts and alternative payment options to make holiday purchases affordable.
A November report by the Federal Reserve Bank of New York revealed that American households’ debt increased to the highest level on record in the third quarter of 2025.
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U.S. consumer sentiment also declined to its lowest level in more than three years and near an all-time low as households’ concerns about the economy mount.
And, in September, inflation reached 3% for the first time since January, above the Federal Reserve’s 2% target rate.
Still, Treasury Secretary Scott Bessent promised relief for American wallets in 2026, telling Fox News earlier this month it would be a “blockbuster” year.
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