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Cyber Monday Sales On Track to Break Record Despite U.S. Inflation
“There is a ton of momentum coming into Cyber Monday, after a surprising Sunday where consumers latched onto early deals and spent nearly $5 billion online, shattering previous records,” said Vivek Pandya, a lead analyst at Adobe Digital Insights. “With discounts set to reach new heights today, Adobe expects Cyber Monday will be a major bright spot this season.”
The promotional period from Thanksgiving through Monday — now known as the Cyber Five — was nothing like 2021, when supply-chain snarls prompted people to shop earlier and retailers to skimp on discounts. This year stores were saddled with a glut of unsold merchandise, forcing them to offer sharply reduced prices to lure bargain-hunters looking to offset…