Retailers offering steep online discounts for Cyber Monday to boost holiday sales

From Investing.com: 2024-12-02 18:47:31

After a slow Black Friday, U.S. retailers are offering steep discounts online to boost holiday sales. Shoppers are being lured by promotions on cosmetics, electronics, toys, and more. Target is offering 50% off thousands of items, including video games and home decor. Sales on Black Friday saw minimal growth, according to Mastercard and Facteus.

Retail giants like Walmart and Amazon are using generative AI features to enhance the online shopping experience. Amazon’s chatbot Rufus helps users compare prices and make informed buying decisions. Salesforce reports that AI tools, like chatbots, have increased purchase rates by 15% for retailers. Spending on Cyber Monday is expected to be 6% higher than last year, reaching $13.2 billion, according to Adobe.

Traffic to retail sites through chatbots or links has surged by 1,800% since Black Friday. Many Americans are turning to “buy now, pay later” services due to increased debt. Adobe projects spending on these services to reach nearly $1 billion. The use of AI tools and convenient payment options are reshaping the retail landscape this holiday season.



Read more at Investing.com: US retailers aim to cash in on Cyber Monday with steep online discounts By Reuters