NEW YORK / LONDON (IT BOLTWISE) – Despite economic uncertainties, Cyber Monday is expected to see new record spending. Experts predict that US consumers will spend $14.2 billion online, up 6.3% from last year. This development is supported by attractive discounts and the increasing use of ‘Buy Now, Pay Later’ plans.
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Cyber Monday, a staple of the post-Thanksgiving shopping season, is once again the focus of U.S. consumers. Despite economic uncertainties, such as rising credit card debt and a slowdown in consumer spending growth, online spending is expected to hit new records on the day. Adobe Analytics forecasts spending will rise to $14.2 billion, up 6.3% year-over-year.
The appeal of Cyber Monday lies in the significant discounts offered, particularly on electronics and clothing. According to Adobe, discounts will be up to 30% on electronics and up to 26% on clothing. These discounts are a key incentive for consumers to make their purchases online, especially at a time when economic uncertainty is forcing many households to rethink their spending.
Another factor driving spending is the increasing use of ‘Buy Now, Pay Later’ plans. These allow consumers to defer their payments on purchases, which is particularly attractive during the holiday season. Adobe estimates these plans will generate $20.2 billion in online spending this season, an 11% increase compared to last year.
The role of smartphones as the dominant platform for online shopping should also not be underestimated. Adobe expects 56.1% of online spending to come from mobile devices, totaling $142.7 billion. This development shows how important mobile technologies have become for modern retail and how they are permanently changing consumers’ shopping behavior.
Interestingly, AI-powered shopping services are also playing an increasingly larger role in consumer decision-making. Salesforce estimates that AI assistants and digital agents make a significant contribution to online spending by helping consumers find the best deals and optimize their purchasing decisions.
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