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Monday, November 28, 2022

The Daily Money: Cyber Monday expected to hit record sales this year

Adobe Analytics expects Cyber Monday sales up 5.1% over last year at $11.2 billion. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Monday, November 28

Happy Monday, Daily Money readers. Hope everyone had a nice, relaxing holiday weekend.

Was yours spent online shopping? If so, you're not alone. A new report from Adobe Analytics found consumers spent a record $9.12 billion online shopping on Black Friday. That's an increase of 2.3% over a year ago, despite concerns about higher prices or a recession.

The report showed that many shoppers took advantage of smartphone sales, with nearly half (48%) of online sales made over the device, up from 44% last year. More shoppers are also taking advantage of buy now, pay later services; orders from Nov. 19-25 were up 78% compared to the previous week. 

Cyber Monday is also expected to set records, with Adobe Analytics expecting sales up 5.1% over last year at $11.2 billion.  

Speaking of Cyber Monday …

Our product experts at Reviewed have rounded up the top Cyber Monday deals of 2022. The team broke down the best deals in tech, fitness, fashion, furniture and more. 

Whether you're interested in saving $50 on a new pair of AirPods or $344 on a coffee table, Reviewed has you covered. 

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🍔 Today's Menu 🍔 

Not lobster. 

Whole Foods said it will stop selling lobster from the Gulf of Maine at hundreds of its stores, citing concerns about risks to rare North Atlantic right whales from fishing gear. The decision drew criticism in Maine, which is home to the country's largest lobster fishing industry.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: How decisions by the Federal Reserve, government and companies impact you.

You can follow USA TODAY reporter Bailey Schulz on Twitter @bailey_schulz and subscribe to our free Daily Money newsletter here for personal finance tips and business news every Monday through Friday.

Black Friday shoppers wearing face masks carry bags at the Citadel Outlets in Commerce, Calif., Friday, Nov. 26, 2021. The National Retail Federation, the nation's largest retail trade group, expects that holiday sales growth this year will slow to a range of 6% to 8%, compared to 13.5% a year ago. The trade group said Thursday, Nov. 3, 2022,  that it predicts that sales for the November and December period will grow to between $942.6 billion to $960.4   billion.
New Black Friday online spending record set: $9.12 billion, report...
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