Cyber Week – pressnews

Biggest Online Shopping Day Ever! Cyber Monday Sales Hit Record $12.4 Bn Even as Savings Dwindle

29Nov

By adminNo Comments

Technology

Biggest Online Shopping Day Ever! Cyber Monday Sales Hit Record $12.4 Bn Even as Savings Dwindle

[ad_1] US shoppers spent $12.4 billion on Cyber Monday, a record result demonstrating the continued resilience of consumers despite dwindling pandemic-era savings and high interest rates.Spending increased 9.6% from a year ago, making it the biggest online shopping day ever, according to Adobe Inc., which compiles the data. Adobe had earlier adjusted upward its online spending forecast for the day based on stronger-than-expected spending on Black Friday and the popularity of buy-now-pay-later offerings that let shoppers stretch their budgets with credit. Buy-now-pay-later usage also hit a record high on Cyber Monday, Adobe said, contributing $940 million in online spending, up 42.5% over the previous year. The firm also said consumers used such credit facilities for increasingly large p...

Cyber Monday marks the year’s biggest online shopping day, and one more chance to save on gifts

[ad_1] Consumers are scouring the internet for online deals as they begin to cap off the five-day post-Thanksgiving shopping bonanza with Cyber Monday.Even though e-commerce is now part and parcel of our everyday lives and much of the holiday shopping season, Cyber Monday –- a term coined back in 2005 by the National Retail Federation –- continues to be the biggest online shopping day of the year, thanks to the deals and the hype the industry has created to fuel it. Adobe Analytics, which tracks online shopping, expects consumers to spend between $12.0 billion and $12.4 billion on Monday, making it the biggest online shopping day of all time. For several major retailers, the “Cyber Monday” sale is a days-long event that begins over the weekend. Amazon's, for example, kicked off on Satur...

Cyber Monday Forecast Boosted After Record Online Holiday Sales, Says By Adobe Inc

[ad_1] Online Holiday bonanza: US shoppers will spend up to $12.4 billion online during Cyber Monday, according to Adobe Inc., which adjusted its initial forecast of $12 billion upward based on stronger-than-expected spending on Black Friday and the popularity of buy-now-pay-later features that let shoppers stretch their budgets with credit.It would cap off a Cyber Week that has already seen record online spending: Black Friday topped projections at $9.8 billion, up 7.5% from a year earlier. Thanksgiving spending of $5.6 billion was up 5.5%, according to figures released early Monday from Adobe. Flexible spending options, including buy-now-pay-later features online, have helped shoppers stretch budgets otherwise battered by inflation. Consumers used such promotions to spend $7.3 billion...