The Amount Americans Spend Is At An All Time High This Cyber Monday

SYRACUSE, N.Y. (CITRUSTV NEWS) — United States consumers spent a record breaking $11.8 billion during Black Friday this year, and experts say that number is going to be even higher for Cyber Monday.

Adobe Analytics is estimating that Americans are going to spend $14.2 billion during Cyber Monday. That’s more than a six percent increase from 2024, when the total was $13.3 billion.

While this new record of online spending may be good for the general economy, it’s putting a lot of pressure on small businesses.

According to a recent survey by CPA Practice Advisor, 28% of small business owners feel pressured to offer steep discounts in order to compete with large retailers online. Meanwhile, 54% say they can’t afford to offer Cyber Monday deals due to financial restraints. 35% also say that the biggest challenge that they face on Cyber Monday is marketing and getting traffic on their websites.

Supporting small businesses online can help with many of these challenges, but local bakery owner Didi Mignacca says it’s also important because it builds community.

“This has been around since 1956, so it’s been generations, and it’s a nice community. Sometimes we have people walk here, you know? And we’re open on the holidays so that they can get fresh bread, fresh donuts… And you know it keeps the money in the local economy,”Mignacca said. 

Even amid record online sales, small retailers say their future continues to hinge on support from the communities they serve.

Reporter: Kate Tannenbaum