US Online Holiday Spending Exceeds Expectations, Reaches $43.7 Billion

US consumers spent $23.6 billion online during the three-day holiday weekend, exceeding expectations. Adobe Analytics projected online spending for the five-day period, including Thanksgiving, to reach $43.7 billion. Despite concerns about the economy, consumers spent freely, with big discounts and short-term debt being used to buy gifts. Wealthier consumers were more likely to spend freely, while lower-income shoppers had already spent government stimulus funds during the pandemic. Online spending growth has slowed in recent years, but is still expected to reach $43.7 billion for the five-day period.