(Credit: eggeeggjiew/Adobe Stock)
‘Tis the season for frantic shopping, online sales — and holiday scams.
Shoppers spent a record $10.8 billion online on Black Friday, according to Adobe Analytics. That’s up 10% from last year, and more than double what consumers spent in 2017. Between 10 a.m. and 2 p.m., online shoppers were spending $11.3 million per minute.
Cyber Monday saw more record-breaking activity: shoppers spent $13.3 billion, up 7.3% over last year. During Cyber Week, consumers spent $41.1 billion, an increase of 8.2% from 2023.
The bulk of sales on Cyber Monday — 57% — came through a mobile device, an all-time high. Mobile sales on the day were $7.6 billion, up 13.3% from last year.
Generative AI-powered chat bots made more of an impact this year. While the user base remains modest, traffic to retail sites from chat bots increased 1,950% over last year.
Black Friday and Cyber Monday are just the start. Adobe expects full holiday season online sales to reach $240.8 billion.
The rush to score deals on gifts can leave consumers vulnerable to online scams. According to the FBI’s Internet Crime Complaint Center, holiday online scams cost consumers more than $281 million last year. The most prevalent scams were non-delivery and non-payment schemes, where people paid for items online but never received them or sellers failed to send the purchased goods.
There are steps consumers can take to protect themselves while shopping online:
- Double-check URLs. Make sure everything in the URL is spelled correctly. Websites should have the secure connection padlock in the address bar, and “https” at the beginning of the full address. Shoppers should also double-check the URL when entering a website via QR code.
- Read seller reviews. If you’re using a new website or using an auction site or marketplace, look at the seller’s ratings and reviews. Look for a large number of completed transactions and favorable reviews. Be aware that reviews can also be faked.
- Watch out for deals on hot items. If a price seems too good to be true, it probably is.
- Beware of phishing. Scammers send a lot of fake marketing emails this time of year, hoping consumers will be too busy to notice they’re not from official sellers. Pay careful attention to misspellings and unusual senders, and don’t click on links that seem suspicious, especially if using your employer’s device or network.
- Don’t accept unusual shipping or payment arrangements. Watch out for websites that have shipping set up in an unusual manner, offer to bypass customs checks or fees, or request direct money transfers. Scammers will sometimes request that shoppers pay by pre-paid gift card, and once they have the information, they’ll steal the gift card funds and never send the item. Always use a credit card, which offers additional protection.
- Protect your data. Don't enter credit card information on webpages that aren't secure. Sellers shouldn't need your Social Security number or date of birth.
- Report scams immediately. Alert the FTC and your bank. Freeze your credit and your credit cards, and change any passwords that could have been compromised. Stop contact with the scammer and don’t tell them why.
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