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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 percent from a year earlier. Much of the increase could be put down to inflation, which rose 7.7 percent in October, the lowest since January.
“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.
