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