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Cyber Monday Could See a Big Spending Boost

Digital Transactions

With just days until the 2022 holiday shopping season begins in earnest, retailers may have a glimmer of hope for more sales if a new survey from Deloitte bears out. In its 2022 Black Friday-Cyber Monday Survey, consulting firm Deloitte predicts that consumers will spend on average $205 on Black Friday, the day following Thanksgiving, and $218 on Cyber Monday, the following Monday. These are 8% and 25% increases, respectively, over 2021.

Though inflation and other economic concerns may weigh on consumers, their holiday shopping, at least for the upcoming weekend, looks hearty. Overall, for the Black Friday through Cyber Monday period, consumers will spend an average of $500 each, up 12% from 2021. Deloitte surveyed 1,200 adults in October. Others provided similar forecasts. ACI Worldwide Inc. predicts a 15% increase in e-commerce transactions for the October through December period, though Adobe Inc. forecasted a modest 2.5% increase for the Nov. 1 through Dec. 31 period, down from the 8.6% increase in 2021 over 2020.