Cyber Monday set for record sales of $11.2 billion as shoppers wait for discounts

Spending on Cyber Monday, the biggest US online shopping day, is set to hit a record $11.2 billion, according to a report, as discounts on everything from clothes to TVs drive shoppers to click “add to cart” even as stubbornly high inflation persists.

The Adobe Analytics report predicts spending on Cyber Monday to rise 5.2% as inflation-weary consumers have been putting off holiday shopping for weeks in the hopes of deep post-Thanksgiving markdowns.