Adobe released its online shopping data for the 2025 holiday season. U.S. consumers spent a record $257.8 billion online between November 1 and December 31. This total marks a 6.8% increase year-over-year.
A strong Cyber Week propelled the growth, accounting for $44.2 billion in sales. The report also highlighted a new milestone in mobile commerce. Smartphones drove 56.4% of all online transactions, securing the majority share for the first time.
Despite these positive e-commerce trends, Adobe’s stock faced pressure at the start of 2026. This performance is attributed partly to a recent downgrade from Jefferies. The firm cited concerns that Adobe’s AI advancements might be limited compared to its industry peers.