Record-breaking Cyber Monday tops $11 billion

Published November 29th, 2022 - 04:13 GMT
Cyber Monday record
Shutterstock image

Inflation being at multi-decade highs in several parts of the world is not scaring off consumers, who are taking advantage of steep discounts on expensive and sophisticated products this Cyber Monday.


According to preliminary data from Adobe Analytics, spending volumes in the United States could reach a record $11.6 billion, a +8.5% increase over 2021, when interest rates were still at lows and central banks downplayed inflation as "transitory."


These numbers also exceed those recorded on Black Friday, where total volume stood at $9.12B (+2.3%), with the amount in November and December expected to reach $209.7B, a 2.5% increase over 2021's numbers, according to Adobe estimates.


It must be remembered that in 2021 the international supply chains were still stuck due to the effects of the closures from COVID which were still permeating the major economies towards the end of the year with negative consequences on distribution and retail consumption.


Still, according to Adobe, for the five days from Thanksgiving to Cyber Monday - one of the busiest shopping periods of the year - online spending could increase by 2.8% to $34.8B.


Cyber Monday, however, is not only limited to the offerings of Amazon and other retail giants but also presents several bargains in the stock markets, which have been hit this year by a sharp devaluation due to a radical change in monetary policy.

© 2007-2022 Fusion Media Limited. All Rights Reserved.

You may also like


Sign up to our newsletter for exclusive updates and enhanced content