9 sources·Business

Record Online Spending Expected This Cyber Monday Amid Economic Caution

Cyber Monday 2024 projected to see record spending as consumers navigate inflation and credit card debt while seeking deals from major retailers.

11%

44%

The distribution of story sources: left-leaning (blue), center (light gray), and right-leaning (red).

Mostly Reliable

The underlying sources are generally reliable but sometimes include opinion, propaganda, or minor inaccuracies.

Balanced

The underlying sources are either a balanced mix of left and right or primarily centrist.

Subscribe to unlock this story

We really don't like cutting you off, but you've reached your monthly limit. At just $3/month or $30/year, subscriptions are how we keep this project going. Start your free 7-day trial today!

Get Started

No highlights available for this story.

Updated: Dec 2nd, 2024, 10:02 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

As Cyber Monday 2024 approaches, online spending in the U.S. is projected to reach $13.2 billion, a 6.1% increase from last year, according to Adobe Analytics. Major retailers like Amazon, Target, and Walmart initiated extended sales events, contributing to record consumer interest. Online spending is anticipated to peak at $15.7 million per minute between 8 p.m. and 10 p.m. Despite strong retail performance, economists express concerns over credit card debt, potential tariffs, and inflation pressures on consumer behavior. The National Retail Federation expects slower overall spending growth this holiday season compared to previous years.

Perspectives

Compare opinions on this story from liberal (Left), conservative (Right) or center-leaning news organizations.

This story is either non-partisan or does not have the required sources to create partisan perspectives.

History

A summary of how this story has evolved over the last 24 hours.