It was a profitable weekend for online retailers both in the U.S. and abroad, according to IBM Corp.’s holiday season spending report released today.

The technology giant, whose connection to holiday sales is its claims that its products have helped process $62 billion worth of e-commerce transactions since Thursday, said retailers recorded a 24 percent worldwide jump in Thanksgiving sales compared to 2015. Retail revenue within the U.S. increased by nearly 12 percent during the same period. A similar pattern emerged the next day, Black Friday, when online spending surged more than 28 percent worldwide but only 9 percent among American consumers.

One potential explanation for the e-commerce industry’s weak stateside growth can be found in a study that the National Retail Federation published on Sunday. The trade group claims that the amount of money spent online by the average U.S. shopper dropped 3.5 percent to $289.19 this holiday season, from $299.60 last year. Additionally, more than a third of the consumers who participated in the study said that literally all of their purchases were on sale items.

On the flip side, however, IBM points out that retailers’ strong international momentum shows Thanksgiving weekend shopping is starting to become a truly global phenomenon. The company says that total online sales during the four-day period increased by a hefty 20 percent year-over-year.

That means that the e-commerce industry can expect a lot of activity from overseas shoppers going into today, which retailers calls Cyber Monday. Adobe Systems Inc. projects it will become the busiest day of the holiday season for the first time this year.

Tamara Gaffney, the head of the company’s digital insights team, expects online retailers to generate $3.36 billion in revenue today, just a hair over the $3.34 billion it expected during Black Friday. IBM didn’t provide a specific sales forecast in its report but predicted that Cyber Monday shopping will increase by “double digits” over 2015.

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