Cyber Monday 2022: Record Online Spending

Cyber Monday 2022: Record Online Spending Predicted as Shoppers Splurge on DealsAs Cyber Monday wraps up the post-Thanksgiving shopping spree, experts anticipate a record-breaking online spending this year. With shoppers expected to spend $14.2 billion, a 6.3% increase from last year, the trend of online shopping during the holiday season continues to grow. Adobe Analytics predicts that today will be the biggest online shopping day of the season, with discounts on electronics and apparel peaking at 30% and 26% off, respectively.The buy now, pay later plans are also gaining popularity, with $20.2 billion in online spending expected this season, a 11% increase from last year. Mobile devices have become the dominant shopping platform, accounting for over 56% of online spending. Despite a slower growth rate compared to last year, the National Retail Federation estimates that shoppers will spend over $1 trillion for the first time. Cyber Monday, now two decades old, remains a crucial day for holiday shopping. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.