Is Cyber Monday Still A Thing?

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Despite higher prices and rising 1interest rates, online holiday shopping is seeing major growth. But there are signs of a 2slowdown.

¡°The online piece has slowed a bit and we¡¯ll see a 3resurgence in, in consumers back in stores this holiday season in ways we haven¡¯t seen for the... two or three years.¡±

The NRF 4estimates Americans will still spend in record numbers this season. But according to Adobe Analytics, customers in the first three weeks of this month spent $64.5 billion online. That¡¯s only a tiny 0.1% gain from last year. With their data also showing that discounts only get deeper in the 5run-up to Cyber Monday. With some experts saying as more people shop early, it could make Cyber Monday less 6relevant in the future.

¡°7Retailers have really responded by moving those deals and promotions up earlier to give people more time.¡±

The National Retail Federation says their data shows shoppers started their holiday shopping as early as September... suggesting they¡¯re more 8budget-conscious and not waiting until Cyber Monday or beyond to find 9deals.

¡°10Particularly right now with inflation top of mind, consumers are looking to 11spread out some of that spending.¡±

But other signs of an online shopping slowdown are also emerging with Amazon 12forecasting fourth-quarter sales below analysts¡¯ expectations. Meanwhile, the president of e-commerce website Shopify says he¡¯s very 13optimistic about sales on this platform the season.

¡°We were already seeing numbers 14slightly up from last year.¡±