Why Cyber Monday could break spending records despite economic uncertainty

By WYATTE GRANTHAM-PHILIPS Associated Press Business Writer NEW YORK AP Deals promoted as various of the best of the holiday season are expected to keep people across the United States glued to their computers and smartphones as the post-Thanksgiving shopping marathon wraps up on Cyber Monday Related Articles Airbus says preponderance A jets now have application fix with less than planes still needing update Artie T burner phone records compelled in Industry Basket event How to find the right gifts for your coworkers Ticker China s factory activity contracts Trump commutes prison sentence for former private equity executive Ask Angi What kind of fireplace is right for me It s no secret that buying things online is now a staple of plenty of people s everyday routines And year after year those purchases mount during the gift-giving holiday rush Experts expect consumers to drive record Cyber Monday spending this year even amid wider economic uncertainty Adobe Analytics has estimated that U S shoppers will spend billion online Monday or more than in They already spent billion online for Black Friday and another billion on Thanksgiving Day exceeding Adobe s forecasts Consumer spending for Cyber Week the five major shopping days between Thanksgiving and Cyber Monday provides a strong indication of how much shoppers are willing to spend for the holidays Cyber Week is off to a strong start Vivek Pandya lead analyst at Adobe Digital Insights disclosed Discounts are set to remain elevated through Cyber Monday which we expect will remain the biggest online shopping day of the season and year Deals on electronics and apparel are poised to peak Monday at and off average listed prices per Adobe s latest estimates While the amount of money going into online shopping carts is expected to reach new heights as consumers try to get the biggest bangs for their bucks while they can rising retail prices also may contribute to any record sales figures that materialize Businesses and households have watched anxiously for financial impacts from U S President Donald Trump s tariffs on foreign imports Workers in both the society and private sectors are also struggling with anxieties over job safety amid both corporate layoffs and the after-effects of the -day regime shutdown For the November-December holiday season overall the National Retail Federation estimates that U S shoppers will spend more than trillion for the first time this year But the rate of upsurge is slowing with an anticipated increase of to year over year compared to during last year s holiday season At the same time credit card debt and delinquencies on other short-term loans have been rising More and more shoppers are turning to buy now pay later plans which allow them to delay payments on holiday decor gifts and other items Buy now pay later loans are expected to drive billion in online spending this holiday season according to Adobe up from last year The firm predicted that buy now pay later loans would pass a new billion milestone on Cyber Monday the vast majority involving purchases made on mobile devices Overall mobile devices have become the dominant shopping platform consumers are turning to for the holidays Adobe expects smartphones wearable tech and other handheld electronics to account for of online spending this season worth a total of billion Five years ago a majority of online purchases were made on desktops Shopping services powered by artificial intelligence are also expected to play a role in what consumers choose to buy Application company Salesforce estimated that AI asssitants and digital agents contributed to billion of the total billion it declared was spent online worldwide on Black Friday Cyber Monday s hot sellers will include gaming consoles such as the Nintendo Switch and toys-turned-fashion statements like Labubu Dolls Adobe announced The analystics firm anticipates the newest editions of popular consumer electronics including the iPhone Google Pixel and Samsung Galaxy S will also see high demand To plenty of Cyber Monday is billed as the last call to take advantage of the deepest discounts in the days following Thanksgiving But its reach has grown over the years Cyber Monday is two decades old now dating back to when the National Retail Federation first coined the term in In contemporary times sales continue to bubble up throughout the week riding on the hype that the industry has built to fuel consumer spending