U.S. retailers are offering big discounts on Cyber Monday, hoping to outpace record Black Friday online sales of $7.4 billion, CNBC reports. The Black Friday record marked the second biggest online shopping day ever seen in the U.S., second only to last year's Cyber Monday mark of $7.9 billion, according to Adobe Analytics data. Online sales have increased by 20 percent over the same period in last year's kick-off of the holiday shopping season. Shoppers also spent $4.2 billion online on Thanksgiving, another record. Adobe expected this year's Cyber Monday to set another record, with sales climbing 18.9 percent over last year to reach $9.4 billion.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Bryan Burrough's 6 favorite books about Old West gunfightersFeature The Texas-raised author recommends works by T.J. Stiles, John Boessenecker, and more
-
'We need solutions that prioritize both safety and sustainability'Instant Opinion Opinion, comment and editorials of the day
-
Book reviews: 'Moral Ambition: Stop Wasting Your Talent and Start Making a Difference' and 'Is a River Alive?'Feature A rallying cry for 'moral ambition' and the interwoven relationship between humans and rivers
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
