According to adobe Digital Insights, us shoppers are expected to spend up to $13.5 billion online during Cyber Monday, slightly higher than the company's initial forecast of $13.2 billion.

Adobe attributes the strong performance of Cyber Monday to shoppers waiting for the biggest discounts and using buy now, pay later financing to purchase expensive items.

Revised forecasts indicate that this year's busiest online shopping day will mark the end of a strong Cyber Shopping Week. Adobe stated in a release that during the five days from Thanksgiving to Cyber Monday, the expected spending will reach $40.6 billion, up 7% from last year.

Adobe's Chief Analyst Vivek Pandya said: 'Despite early competitive discounting that drove record spending on Thanksgiving and Black Friday, many consumers still see Cyber Monday as the best day to get the season's top deals.' 'The day is starting strong, with expected increased spending in the evening, and Adobe forecasts that Cyber Monday will continue to be the biggest e-commerce day of the year.'

Most of the retailers' sales and profits come from the holiday shopping season. Analysts are closely watching this outcome to see if lower interest rates and moderated inflation are prompting price-sensitive consumers to increase spending.

Big promotional events like Black Friday and Cyber Monday have lost some of their glamour, but retailers usually hold their best discounts for these days because they are days that shoppers look forward to. Adobe states that popular categories this year include toys, jewelry, clothing, sporting goods, personal care, appliances, and electronics, tracking 1 trillion visits to U.S. retail websites and consumer behavior for 0.1 billion products across 18 product categories.

According to the company, the online sales in November and December are expected to reach 240 billion dollars, an increase of 8.4% compared to last year.

Editor/ping