Cyber Monday Shopping in US May Exceed $12 Billion

On Cyber Monday it is expected U.S. shoppers will spend up to $12.4 billion on heavily discounted clothing, electronics, toys, cosmetics, and other products. Investors say possible winners for the day include Apple, Walmart, and Amazon due to strong online traffic.

Retailers started sending video streaming ads, text messages, and push notifications to shoppers mobile phones.

Amazon started marketing Cyber Monday Deals on Saturday already, including up to 35% on Amazon devices including a 55-inch Amazon Fire TV 4, 37% off certain Vitamix blenders, and 6% off some Instant Pot kitchen appliances.

Walmart on Sunday night slashed prices in an effort to take market share, joining the trend of early discounts by retailers on major shopping days.

Apple offered Apple Gift Cards of as much as $200 with certain purchases.

Wealth Consulting Groups chief investment officer, Jim Worden, said it was still too early to predict how this will all play out. He added that spending online was good and although the prices of some electronics including TVs have been reduced significantly, it was not certain how much the average consumer would go for these deals.

On Monday Carol Spieckerman, a retail consultant said shoppers were aware that the biggest discounts were still ahead.