Consumers spend record $204B on 2021 holiday shopping season

Consumers spent more than $204 billion online during the 2021 holiday season, marking a record high despite ongoing supply chain woes coupled with painfully high inflation. 

According to the Adobe Digital Economy Index, a record $204.5 billion was spent between Nov. 1 to Dec. 31., an 8.6% increase compared to the same time last year. 

Adobe Digital Insights lead analyst Vivek Pandya told FOX Business that the nearly 9% growth was "is in line with what we were expecting," 

"The Covid-19 pandemic had created a step change in online spend that could have been challenging to exceed, but even before the holiday season, we were seeing the lasting impacts of changing consumer behaviors," Pandya said.