CNN, also known as Cable News Network, is a global leader in news reporting and journalism. With a reputation for providing up-to-the-minute news coverage, CNN has become a household name for millions of viewers around the world. Recently, CNN reported on the staggering amount of money spent by US consumers during the holiday shopping season, particularly on Cyber Monday.
According to CNN, US consumers spent a record-breaking $13.3 billion on Cyber Monday, marking a 7.3% increase from the previous year. This spending spree capped off a five-day period of intense shopping, with total sales reaching $41.1 billion. The surge in spending was fueled by enticing discounts and deals offered by retailers, which encouraged consumers to make purchases earlier in the holiday season.
One of the key trends highlighted by CNN was the significant increase in online shopping, particularly through mobile devices. Mobile sales accounted for $7.6 billion in spending on Cyber Monday, representing a shift in consumer behavior towards shopping on-the-go. This shift was further emphasized by the fact that 57% of online sales were made through mobile devices, compared to 33% in the previous year.
CNN also reported on the top-selling items during Cyber Monday, with toys and consumer electronics leading the pack. Popular items included Elf on the Shelf dolls, Lego sets, and gaming consoles like the PlayStation 5 and Xbox Series X. Discounts on these items reached up to 23% off, making them even more appealing to consumers looking for holiday deals.
In addition to consumer electronics, CNN highlighted the impact of tariffs on imported goods, particularly in the wake of recent proposals by President-elect Donald Trump. The potential tariffs on imports from China, Mexico, and Canada could result in higher prices for consumer electronics, ultimately affecting consumers who rely on these products.
Despite these challenges, CNN noted that Cyber Monday sales were not limited to the US, with global sales reaching $49.7 billion. This international reach underscores the significance of Cyber Monday as a global shopping event, with consumers around the world taking advantage of online deals and discounts.
Overall, CNN’s coverage of Cyber Monday provided valuable insights into consumer spending trends, popular shopping items, and the impact of tariffs on imported goods. As a trusted source of news and information, CNN continues to deliver comprehensive reporting on key events and trends that shape the world of business and commerce.
