Cyber Monday Sales Soar to Record $14.2B

Cyber Monday 2022: Record Spending Predicted as Consumers Seek Best ValueThis years Cyber Monday is shaping up to be a massive online shopping event, with experts predicting record spending of fourteen point two billion dollars. The strong start to Cyber Week, following a successful Black Friday and Thanksgiving Day, indicates that consumers are willing to spend this holiday season. Despite economic uncertainties, shoppers are looking for the best value, with discounts on electronics and clothing expected to peak at thirty percent and twenty-six percent respectively. The use of buy now, pay later plans is also on the rise, with Adobe predicting they will drive twenty point two billion dollars in online spending, an eleven percent increase from last year. Overall, the National Retail Federation estimates that holiday spending for November and December will exceed one trillion dollars for the first time ever. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.