With Black Friday and Cyber Monday around the corner, many consumers are growing excited about new holiday purchases. But who is more excited, the consumer or the businesses providing the products?
This year, Cyber Monday is expected to rake in $9.4 billion, a huge increase from 2018. The study shows that the main shopping hours occur between 7 p.m. – 11 p.m. (PT), as consumers face “deal FOMO” on last-minute deals.
Furthermore, Thanksgiving is expected to bring in $4.4 billion in online spending, and Black Friday another $7.5 billion. So, despite shopping season being about a week shorter this year, Adobe Digital Insights is predicting each day in November and December to surpass $1 billion in online sales for the first time ever. For retailers, this is great news. For consumers, you may want to reconsider how much money you’ll allow to get gobbled up.
Image Courtesy of Shutterstock