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Deal-hunters on track to spend record $12 billion in US Cyber Monday shopping spree

28Nov

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Technology

Deal-hunters on track to spend record $12 billion in US Cyber Monday shopping spree

[ad_1] Spending online on Cyber Monday is set to exceed $12 billion, a record, as bargain hunters snap up deals on items including Barbie dolls, Lego sets, headphones and smart watches, according to preliminary estimates from Adobe Digital Insights.The estimate projects U.S. shoppers will spend $12 billion-$12.4 billion on Cyber Monday, the biggest U.S. online shopping day. A significant portion of this spending, around $4 billion, is expected to occur between 6 p.m. and 11 p.m. EST, particularly from last-minute shoppers, it said. At the top end, this would represent an 9.7% increase compared to the $11.3 billion spent on Cyber Monday last year. We are now on WhatsApp. Click to joinRetailers have been coaxing inflation-weary U.S. shoppers to open their wallets on Cyber Monday with push...

Here’s what Twitter lost in advertising revenue in final months of 2022

[ad_1] Top advertisers on Twitter slashed their spending after Elon Musk's takeover, according to estimates compiled for Reuters by research firm Pathmatics, in the latest shock to the company's dominant revenue source. Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took charge on October 27, according to the Pathmatics estimates. Four advertisers reduced spending between 92% and 98.7% from the week before Musk's acquisition through the end of the year. Overall, advertising spending by the top 30 companies fell by 42% to an estimated $53.8 million for November and December combined, according to Pathmatics, despite an increase in spending by six of them. Pathmatics said the previously unreported figures on Twitter advertising are...

US Shoppers Kick Off Holiday Season With a Muted Black Friday

[ad_1] US retailers discounted heavily on Black Friday to clear out bloated inventories but customers responded with only modest traffic, leaving profitability in doubt for many chains. US retailers discounted heavily on Black Friday to clear out bloated inventories but customers responded with only modest traffic, leaving profitability in doubt for many chains. Crowds were thin in the late morning at Connecticut's Stamford Town Center mall, with few shoppers at Kay Jewelers and just a small line at Forever 21. A couple at a Walmart Inc. supercenter near Dallas reveled in the lack of crowds as they bought presents for their grandchildren. At the Stonestown mall in San Francisco, shoppers were few and far between. “It feels like a normal day,” said Miguel Martinez, 35, a warehouse sup...