People carry shopping bags as they walk in Herald Square on Black Friday in New York City on Friday. For over a decade, Black Friday has traditionally been the official start to the busy buying binge sandwiched between Thanksgiving and Christmas. Photo by John Angelillo/UPI | License Photo
Nov. 25 (UPI) -- Americans set a new record Thanksgiving day record, spending $5.29 billion in online shopping on Thursday.
Thursday's amount represented a 2.9% increase from last year. Shoppers typically spend about $2 billion to $3 billion online in one day, according to data shared by Adobe.
Mobile shopping -- purchases made through smartphones -- accounted for 55% of online sales, an all-time record for Thanksgiving Day since 2012.
Vivek Pandya, a lead analyst at Adobe, told CNBC that the increase was driven by demand, as consumers shrugged off record-high levels of inflation.
Online sales haven't been driven higher by inflation like store sales, since e-commerce is largely made up of electronics, apparel and other durables that have stayed stable in price or declined compared to groceries, he said.
"Given the macroeconomic headwinds and backdrop coming into the season for consumers, the big question was, 'Would the strength of discounts be able to keep demand strong and have it be stable - on par with what we saw last year?'" Pandya said. "What we are seeing is the discounts being strong enough to entice consumers to continue to spend."
According to Adobe, even bigger days are ahead. Black Friday is expected to draw $9 billion in spending, while Cyber Monday is predicted to bring in $11.2 billion.
The top-selling toys so far include Squishmallows, Roblox, Paw Patrol, Hot Wheels, Cocomelon and L.O.L. Surprise Dolls.
The top gaming consoles sold so far include the Nintendo Switch, the Xbox Series X, and PlayStation 5.