What's happened
Cyber Monday 2024 is projected to be the biggest online shopping day of the year, with consumers expected to spend $13.2 billion, a 6.1% increase from last year. Retailers are adapting to changing shopping habits, as e-commerce continues to dominate the holiday season despite inflation concerns.
Why it matters
What the papers say
According to The Independent, Adobe Analytics anticipates a record $13.2 billion in spending on Cyber Monday, marking it as the biggest shopping day of the year. This aligns with Axios's observation that Cyber Monday has become a way for retailers to extend the Thanksgiving shopping weekend. AP News highlights that while consumers are eager to shop, many are still feeling the effects of inflation, which has led to increased credit card debt and a rise in 'buy now, pay later' plans. The contrasting views from these sources illustrate the complex landscape of holiday shopping, where consumer enthusiasm is tempered by economic realities.
How we got here
Cyber Monday, established in 2005, has evolved from a day for online shopping following Black Friday to a major sales event. The shift to mobile shopping and the impact of inflation have changed consumer behavior, leading to a decline in Cyber Monday's relative popularity compared to Black Friday since 2019.
Common question
-
How did Cyber Monday sales perform this year?
Cyber Monday 2024 has set a new record with projected sales reaching $13.2 billion, marking a 6.1% increase from last year. This surge reflects changing consumer behaviors and the ongoing impact of inflation on shopping habits. Below, we explore key trends and insights that define this year's Cyber Monday.
-
What are the key trends for Cyber Monday 2024 amid inflation?
Cyber Monday 2024 is shaping up to be a record-breaking day for online shopping, with consumers expected to spend $13.2 billion. However, inflation is influencing how people shop and what they buy. This page explores the key trends, consumer behavior changes, and strategies retailers are using to navigate this complex landscape.
More on these topics
-
Cyber Monday also known as Blue Monday is a marketing term for the Monday after the Thanksgiving holiday in the United States. It was created by retailers to encourage people to shop online.
-
Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas.
-
Target Corporation is an American retail corporation. It is the 8th-largest retailer in the United States, and is a component of the S&P 500 Index.
-
Black Friday may refer to:
-
The National Retail Federation is the world's largest retail trade association. Its members include department stores, specialty, discount, catalog, Internet, and independent retailers, chain restaurants, grocery stores, and multi-level marketing companie
-
Amazon.com, Inc., is an American multinational technology company based in Seattle, Washington. Amazon focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence.
-
Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.