Cyber Monday Forecast Boosted After Record Online Holiday Sales.

According to Adobe Inc., US shoppers are projected to spend up to $12.4 billion online during Cyber Monday, an increase from the initial forecast of $12 billion. This adjustment is based on stronger-than-expected spending on Black Friday and the popularity of buy-now-pay-later features. The top-spending hour is typically from 10 p.m. to 11 p.m. E-commerce consumers had already spent $8.3 billion as of 6 p.m. in New York. Overall, the Thanksgiving-Monday period, known as Cyber Week, is expected to see total spending of up to $38.1 billion. Flexible spending options and credit promotions have helped retailers stimulate spending, with consumers using such promotions to spend $7.3 billion from November 1 to November 26, a 14% increase from the previous year. [Extracted from the article]