US' Cyber Monday online sales fall 1.4%, first annual decline on record

By Ovunc Kutlu

ANKARA (AA) - US Cyber Monday online sales fell 1.4%, according to Adobe Digital Insights (ADI) data Tuesday.

American consumers spent $10.7 billion on Cyber Monday despite increasing demand in face of rising inflation.

It marked the first annual decline ever since the shopping event started in 2005 to encourage consumers to shop on the internet.

Despite the decline, the US is expected to see record e-commerce sales during the year's holiday season, which runs from Nov. 1 through Dec. 31.

E-commerce spending is expected to surpass the $200 billion mark for the first time to reach $207 billion this season, according to ADI, which would be a 10% increase from the previous year if achieved.

American consumers have spent $109.8 billion since Nov. 1 on the internet -- up 11.9% year-on-year, ADI said, adding consumers purchased more than $3 billion worth of goods since the beginning of November, which is a record.