According to the National Retail Federation's annual holiday sales predictions in October, total retail sales are expected to increase 2.5% to 3.5% over 2023 levels.
CapitalOne predicts that holiday shoppers will spend $13.2 billion today on Cyber Monday, demonstrating the event's increasing importance in the holiday shopping calendar.
The holiday spending season accounts for an average of 19% of total annual sales for retailers, showcasing its vital role in their business models.
In 2023, 94 million people shopped online on Cyber Monday, marking a 26.5% larger shopping day than Black Friday, illustrating the growth of e-commerce.
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