Despite dwindling pandemic-era savings and high interest rates, US consumers showcased their unwavering resilience by spending a record-breaking $12.4 billion on Cyber Monday. Spending was up 9.6% from a year ago, making it the biggest online shopping day ever, according to data aggregator Adobe Inc. Adobe had earlier raised its forecast for online spending for the day based on higher-than-expected spending on Black Friday and the popularity of buy-now-pay-later deals, which allow shoppers to stretch their budgets with credit. Buy-now-pay-later usage also hit a record high on Cyber Monday, with…

Read More

According to initial estimates from Adobe Digital Insights, online spending on Cyber Monday is expected to surpass $12 billion, marking a new record. Bargain hunters are eagerly purchasing various items such as Barbie dolls, Lego sets, headphones, and smart watches. US shoppers are estimated to spend between $12 billion and $12.4 billion on Cyber Monday, the biggest online shopping day in the US. A significant portion of that spending, about $4 billion, is expected to occur between 6 p.m. and 11 p.m. EST, especially for last-minute shoppers, it said. At…

Read More

As Cyber Monday arrives, consumers are actively searching the internet for online bargains, concluding the five-day shopping extravaganza following Thanksgiving. Although e-commerce is now a part of our daily lives and much of the Christmas shopping season, Cyber Monday – a term coined by the National Retail Federation in 2005 – remains the biggest online shopping day of the year. , thanks to the trades and hype created by the industry to fuel it. Adobe Analytics, which tracks online shopping, expects consumers to spend between $12.0 billion and $12.4 billion…

Read More