Retailers on track for record Cyber Monday -Adobe Analytics

Nov 28 - Spending on Cyber Monday, the biggest U.S. online shopping day, may hit a record $11.6 billion according to one preliminary estimate, as discounts on everything from pajamas to AirPods tempt shoppers to click "buy" despite the strain on household budgets from high inflation.

The estimate from Adobe Analytics predicts an increase of up to 8.5% from a year earlier. Much of the increase could be put down to inflation, which"If you exclude inflation, which has been running in high-single-digits, you come to a flattish number in real terms which would really not be too bad," Telsey Advisory Group analyst Joseph Feldman said.

Adobe Analytics measures e-commerce performance by analyzing purchases at 85% of the top 100 internet retailers in the United States. Both Adobe and MasterCard Spending Pulse are expected to release their updated Cyber Monday spending estimates on Tuesday.for weeks in the hopes of finding deeper post-Thanksgiving markdowns. Retailers have dangled deals and discounts since as early as October to tempt shoppers to open their wallets.

"Shoppers are waiting out the season in anticipation of deeper discounts and are less susceptible to shiny objects," said Carol Spieckerman, president at consultancy Spieckerman Retail. Target.com on Monday advertised discounts of up to 40% on Hot Wheels toys and holiday decor, while Amazon.comA worker selects and packs items during Cyber Monday at the Amazon fulfillment center in Robbinsville Township in New Jersey, U.S., November 28, 2022. REUTERS/Eduardo Munoz

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