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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.

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Overview

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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.

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