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Shoppers line up in front of a Zara store on Black Friday. Photo: Matthew Horwood/Getty Images

Thanksgiving Day consumer spending increased by roughly 22% year-over-year, topping a $5.1 billion record, according to Adobe Analytics data, CNBC reports.

The state of play: As shoppers avoid in-person retail due to COVID-related concerns, online transactions have surged. Adobe's marketing technology division follows online buying in real time at 80 of the top 100 retailers across the U.S., saying nearly half the purchases made on Thanksgiving were done so from smartphones.

  • Last year, online sales hit $4.2 billion on Thanksgiving Day.

What to watch: Adobe forecasts that the full holiday season — from Nov. 1 to Dec. 31 — will add up to $189 billion in sales.

  • Adobe anticipates Black Friday sales will add up to $10.3 billion, while Cyber Monday sales could reach $12.7 billion — making them the two largest online sales days in history.

Go deeper

Jan 3, 2021 - Economy & Business

Car buying has changed forever

Illustration: Sarah Grillo/Axios

It took a pandemic to drag the car-buying process into the 21st century — and consumers are never going back.

Why it matters: After COVID-19, consumers can now buy cars online as they do almost everything else, with the ability to complete the entire transaction digitally and take delivery without ever setting foot in a showroom.

Stalemate over filibuster freezes Congress

Illustration: Sarah Grillo/Axios

Senate Majority Leader Chuck Schumer and Mitch McConnell's inability to quickly strike a deal on a power-sharing agreement in the new 50-50 Congress is slowing down everything from the confirmation of President Biden's nominees to Donald Trump's impeachment trial.

Why it matters: Whatever final stance Schumer takes on the stalemate, which largely comes down to Democrats wanting to use the legislative filibuster as leverage over Republicans, will be a signal of the level of hardball we should expect Democrats to play with Republicans in the new Senate.

Dave Lawler, author of World
1 hour ago - World

Biden opts for five-year extension of New START nuclear treaty with Russia

Putin at a military parade. Photo: Valya Egorshin/NurPhoto via Getty

President Biden will seek a five-year extension of the New START nuclear arms control pact with Russia before it expires on Feb. 5, senior officials told the Washington Post.

Why it matters: The 2010 treaty is the last remaining constraint on the arsenals of the world's two nuclear superpowers, limiting the number of deployed nuclear warheads and the bombers, missiles and submarines which can deliver them.