US online spending during the Cyber Five holiday period rose about 8% from last year, beating expectations as shoppers pursued discounts and increasingly relied on AI-assisted tools, Bank of America said on Tuesday, citing data from Adobe Inc (NASDAQ:ADBE) and Salesforce Inc (NYSE:CRM, XETRA:FOO).
The Cyber Five refers to the five-day period around Thanksgiving in the US that is considered the peak of the holiday shopping season for e-commerce.
Adobe estimated online sales over the five-day stretch reached $44.3 billion, up 7.7% year-on-year and ahead of its 6.3% forecast, though slightly below 2024’s 8.2% growth. Salesforce reported a slower 5% rise to $79.6 billion.
Cyber Monday sales rose 7.1% to $14.3 billion, modestly topping estimates.
Bank of America described the results as “modestly positive,” helped by strong demand for discounted electronics, sporting goods and appliances. Adobe said items such as luggage, exercise equipment, video games and blankets sold particularly well.
The bank highlighted fast-growing use of Amazon’s AI shopping assistant, Rufus. SensorTower data showed US Black Friday sessions involving Rufus and resulting in a purchase were up 100% from the trailing 30-day average, compared with 20% growth for sessions without the tool. Rufus-driven sessions also grew faster overall.
BofA said this trend aligns with Adobe’s finding that AI-driven traffic surged 670% on Cyber Monday and more than 800% on Black Friday. Amazon.com Inc (NASDAQ:AMZN) also held a pricing edge, with Profitero data showing its prices averaged 14% below US retailers and 5% below the next closest rival.
“We anticipate that strong online penetration growth will likely continue through the holiday period driven by increasing use of AI tools and faster delivery speeds,” analysts wrote.
While deal-focused behavior may pose “modest margin risk” for e-commerce companies in the fourth quarter, BofA said consumers remain healthy but more intentional as tariff-driven inflation pushes shoppers to hunt for value.
Analysts track Cyber Five sales closely because this period is a key indicator of consumer behavior, e-commerce growth, and retailer performance heading into the holiday season.
The firm maintained Buy ratings on Amazon and Chewy, saying marketplaces are best positioned to gain share through the holidays and into early 2026.