Record $6.4B Thanksgiving Day online spending driven by discounts

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FOX Business’ Jerry Willis reports new data pointing to a tougher holiday shopping season as the government shutdown continues at Varney & Co.

Consumers spent a record $6.4 billion online over Thanksgiving, partly due to increased discounts.

Spending rose 5.3% from a year ago, as shoppers took advantage of stronger-than-expected Cyber Week deals, according to Adobe Analytics. Adobe didn’t display Thursday’s discount levels until later in Cyber Week.

Discounts on electronics reached 28% of the mentioned price. Close behind came discounts on clothing, which peaked at 25%, according to Adobe. Computers were at a discount of up to 23%, while games were at a discount of up to 27%, and home appliances were at a discount of 19%.

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Adobe reports there are deals on TVs (21% off), sporting goods (20% off), appliances (19% off), and furniture (18% off).

Computers were at a discount of up to 23%, while games were at a discount of up to 27%, and home appliances were at a discount of 19%. (David Paul Morris/Bloomberg via Getty Images)

Buy now, pay later payment plans have also led to an uptick in spending. Buy now, pay later plans, which allow consumers to buy 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% from a year ago.

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“The volume of discounts was the big story on Thanksgiving yesterday, as retailers turned to offering great deals to drive consumer demand online,” said Vivek Pandya, senior analyst at Adobe Digital Insights. Pandya also credited “impulse-led mobile shopping and the use of generative AI that helped shoppers identify the best deals” for a higher-than-expected increase in overall spending on Thanksgiving.

The Thanksgiving spending trends covered by Adobe highlight how shoppers are relying on deep discounts and alternative payment options to make holiday purchases affordable.

Shoppers view window scrolling Black Friday ad.

Consumers spent a record $6.4 billion online during Thanksgiving in 2025. (Henry Nicholls/AFP via Getty Images)

November report issued by Federal Reserve The Bank of New York revealed that US household debt rose to an all-time high in the third quarter of 2025.

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we Consumer sentiment It also fell to its lowest level in more than three years and near an all-time low as household concerns about the economy grow.