Cyber Monday spend could total $12bn, heavy discounts
The number of US shoppers hitting online sales could lead to a record $12 billion outlay on Cyber Monday, according to early data, up 5.4% from last year. IGTV's @AngelineOng takes a look at what’s driving US consumers to buy.
(Video Transcript)
Increase of 5.4% predicted over 2022 figures
Heavy online traffic and transactions could add up to a record $12 billion outlay by US shoppers this Cyber Monday. That's the early figure coming from Adobe Analytics, and it will represent a 5.4% rise from the same period last year.
Vivek Pandya from Adobe Digital Insights says that strong discounts were seen, and we do know that many retailers like Walmart and Amazon started their discounts really early, trying to lure these consumers in to try and get their cashiers ringing while they still can.
Retailers slash prices early
Amazon began its Cyber Monday deals as early as Saturday. We have anecdotal evidence, as well, that many others, including Walmart, slashed prices early. Joining this trend of retailers discounting early on major shopping days to try and get those consumers, those cost-conscious consumers, to try and buy more early on.
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