Gerri Willis of FOX Business reports on new data pointing to a tougher end-of-year shopping season as the government shutdown continues on ‘Varney & Co.’
Consumers spent a record $6.4 billion online during Thanksgiving, partly fueled by a surge in discounts.
The spending marks a 5.3% increase from a year ago as shoppers took advantage of Cyber Week deals that came on stronger than expected, according to Adobe Analytics. Adobe did not anticipate seeing the level of discounts experienced on Thursday until later in Cyber Week.
Discounts on electronics reached as high as 28% off list price. Apparel discounts followed closely behind, peaking at 25%, according to Adobe. Computers were discounted as much as 23%, while toys were discounted as much as 27% and appliances saw 19% discounts.
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Adobe reported there were also deals on televisions (21% off), sporting goods (20% off), appliances (19% off) and furniture (18% off).
Computers were discounted as much as 23%, while toys were discounted as much as 27% and appliances saw 19% discounts. (David Paul Morris/Bloomberg via Getty Images)
Buy Now, Pay Later payment plans also drove spending growth. Buy Now, Pay Later plans, which allow consumers to purchase items immediately and pay over time in smaller, often interest-free installments, accounted for $447.7 million in online spending, up 4.1% from a year ago.
The U.S. added 119,000 jobs in September, the delayed jobs report revealed.
“Yesterday, Thanksgiving, discounts were a big story as retailers focused on driving online consumer demand by offering great deals,” said Vivek Pandya, lead analyst at Adobe Digital Insights. Pandya also credited the use of impromptu mobile shopping and generative AI, “which helped shoppers find the best deals,” for driving the higher-than-expected overall spending on Thanksgiving.
The Thanksgiving spending trends covered by Adobe underscore just how much shoppers are relying on heavy discounts and alternative payment options in order to make holiday purchases affordable.
Consumers spent a record $6.4 billion online on Thanksgiving in 2025. (Henry Nicholls/AFP via Getty Images)
A November report from the Federal Reserve Bank of New York showed that U.S. household debt increased in the third quarter of 2025 to a record high.
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U.S. consumer sentiment also fell to its lowest level in more than three years and neared a historic low as concerns about household finances grew.
Spending was up 5.3% from a year ago, according to data from Adobe Analytics. (Getty Images)
And in September, inflation hit 3% for the first time since January, surpassing the Federal Reserve’s target rate of 2%.
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Still, Treasury Secretary Scott Besent is promising relief for Americans’ wallets in 2026, telling Fox News earlier this month it will be a year of “gangbuster” success.
