Cyber Monday Spending Soars: AI and Consumer Behaviors Shape the Shopping Landscape

U.S. consumers are projected to spend $14.2 billion on Cyber Monday after a successful Black Friday. Wealthier shoppers spend freely, while lower-income consumers look for deals. AI technologies play a vital role in purchase behaviors, with 670% increased AI-driven traffic anticipated. In-store shopping drops by 5.3%, revealing changing consumer preferences.

Americans are ready to unleash their wallets this Cyber Monday, with spending expected to reach a staggering $14.2 billion, according to Adobe Analytics. This follows an upbeat Black Friday weekend where affluent consumers spent lavishly, while budget-conscious shoppers hunted for bargains.

Although online spending surged, reaching $23.6 billion over the Black Friday weekend, in-store shopping saw a decline of 5.3%. This divergence indicates a changing retail landscape, where AI technologies like chatbots are increasingly influencing consumer behavior.

Marshal Cohen of Circana highlights a consumer division, with lower-income buyers focusing on affordable goods. Meanwhile, luxury items are showing slightly above-average growth. Despite economic uncertainties, holiday shopping remains robust, pointing to resilient consumer confidence.

(With inputs from agencies.)