U.S. retailers’ online sales likely slowed this Cyber Monday, as fewer discounts and limited choices due to global supply-chain disruptions deterred shoppers, but other data points suggested American consumers are in pretty good health.
Retailers had also spread out promotional deals across more weeks to protect profit margins from surging supply chain costs and to better manage inventories amid widespread product shortages ahead of the Christmas shopping season.
Those attempts have pinched sales on what are traditionally some of the biggest shopping days of the year, with Adobe Analytics data over the weekend showing spending online during Black Friday fell for the first time ever. read more
“Online sales on big shopping days like Thanksgiving and Black Friday are decreasing for the first time in history, and it is beginning to smooth out the shape of the overall season,” said Taylor Schreiner, director, Adobe Digital Insights.
U.S. spending on Cyber Monday is expected to be between $10.2 billion and $11.3 billion, according to estimates from Adobe.
That translates to roughly flat growth at the midpoint compared to last year’s $10.8 billion, which was a near 15% jump from 2019.
