NEW YORK — Cyber Monday is still holding up as the biggest online shopping day of the year, even though many of the same deals have been available online for weeks and the name harks back to the days of dial-up modems.
Shoppers are expected to spend a record $9.4 billion on purchases made on their phones and computers Monday, up about 19% from last year’s Cyber Monday, according to Adobe Analytics, which tracks transactions at 80 of the top 100 U.S. online stores.
The busiest time is expected to be in the hour before midnight, as people race to take advantage of discounts before they disappear.
On average, retailers offered 30% off on Monday, the steepest discounts of the year, according to Salesforce.
Some have been offering deals for days. Amazon started offering Cyber Monday deals on Saturday, calling the three-day extravaganza “Cyber Monday Weekend.”
Walmart kicked off online discounts for the holidays a week before Halloween. It was a way to combat the shortened holiday shopping season.
Amazon removes ornaments with Auschwitz theme
WARSAW, Poland — Amazon said Monday it has removed “Christmas ornaments” and other merchandise bearing the images of Auschwitz that had been available on its online site.
Amazon, which functions as a marketplace on top of selling products itself, said in a statement that “all sellers must follow our selling guidelines” and that those who do not will be removed.
The move comes after the Auschwitz-Birkenau state museum on Sunday appealed to Amazon to remove the merchandise, which also included an Auschwitz bottle opener and a Birkenau “massacre” mouse pad. It said that, “Selling ‘Christmas ornaments’ with images of Auschwitz does not seem appropriate. Auschwitz on a bottle opener is rather disturbing and disrespectful.”
Tech stocks lead markets’ slide; energy sector stays bright
Technology companies led a broad slide for stocks Monday, handing the market a downbeat start to the month after notching strong gains in November.
Industrial, communication services and financial stocks also accounted for a big share of the sell-off. Energy stocks notched the biggest gain, aided by a 1.4% increase in the price of U.S. crude oil. Bond yields rose.
Trade tensions flared with China’s diplomatic retaliation for U.S. support of protesters in Hong Kong, putting investors in a selling mood. The selling accelerated after the U.S. government issued weak manufacturing and construction spending reports.
Wall Street has been hoping that the world’s two biggest economies can make progress toward at least stalling new tariffs scheduled for Dec. 15 on $160 billion worth of Chinese products, including smartphones and laptops.
The Associated Press