US consumers are projected to spend $US14.2 billion ($21.6 billion) on Cyber Monday, according to Adobe Analytics. This follows a robust Black Friday weekend which saw varied spending patterns among different income groups. Cyber Monday is traditionally the country’s largest online shopping day, marking the end of the four-day shopping period that starts the day after Thanksgiving.
Online spending across the US is anticipated to increase by 6.3% compared to last year’s Cyber Monday. Black Friday online sales reached a record $US11.8 billion, contributing to a total of $US23.6 billion for the entire weekend. Adobe, which tracks one trillion visits to online retail sites, reported this represents a 9% increase from the previous year.
In contrast to online spending, in-store shopping experienced a downturn. Data from RetailNext, a foot traffic analytics firm, indicated a 5.3% decrease in in-store shopping over the Black Friday weekend compared to the previous year. This shift highlights the increasing dominance of online retail during the holiday shopping season.
Early data suggests a divergence in shopping behaviour. Marshal Cohen, chief retail advisor at consumer research firm Circana, noted that wealthier consumers spent more freely, while lower-income shoppers prioritised affordability at stores such as Walmart and Target. This split underscores the varied economic pressures impacting different segments of the US population.
