Cyber Monday broke US shopping records

What to read today: Usage-Based Auto Insurance: In this report, Insider Intelligence evaluates the growth opportunities within UBI, outlines the model's benefits, and highlights key players in the space. The report profiles three incumbents and one insurtech within the UBI space and details information about their onboarding process, IoT devices, data collection, and pricing..

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December 5, 2020 Cyber Monday broke US shopping records, grabbing $10.84 billion in sales. US retailers pulled in a whopping $10.84 billion in online sales on Cyber Monday. These results outperform last year's and also make this year's Cyber Monday the biggest US online shopping day ever. Furthermore, the day's results put total spending for this season to date past the $100 billion threshold, helping it outpace the milestone nine days faster than last year. With the Thanksgiving weekend shopping holidays now behind us, we outline how some retailers plan to meet fulfillment and delivery demands to complete ongoing holiday orders. Business Insider Intelligence's Adriana Nunez has the full story. BRIEFING HIGHLIGHTS Revolut adds app features, new web portal to drive engagement Revolut's mobile app updates and new online portal come as Starling's newfound profitability is putting the spotlight on other UK neobanks' success. Read More → Metromile looks to go public through SPAC acquisition Metromile decided to become a public company by merging with publicly traded special purpose acquisition company Insu Acquisition Corp. Read More → Facebook's Diem, Visa, PayPal extend reach in crypto payments space Visa, PayPal, and Facebook's Diem, formerly known as Libra, are looking to capitalize on the rapidly growing crypto payments industry. Read More → Chase and Lloyds are reportedly mulling a Starling purchase Chase and Lloyds expressed interest in acquiring Starling, following its milestone of becoming the first consumer-focused neobank to turn a profit. Read More → Retailers hope to induce holiday consumer spending Consumers plan to cut back on holiday spending this year, but retailers hope to encourage much-needed consumer spending with ecommerce offerings. Read More → S&P Global agreed to buy IHS Markit to create market data powerhouse S&P Global is buying IHS Markit to boost its data analytics capabilities, further consolidating the space to a few market data giants. Read More → Chip launched a high-yield savings account to boost engagement Chip has launched a high-yield savings account, which might not be viable long term amid the UK's low interest rate environment. Read More → Banks may keep branches open despite rising COVID cases Major US banks plan to evaluate their branch closures on a location-by-location basis as coronavirus cases spike. Read More → JPMorgan purchases 55ip to empower financial advisors JPMorgan Asset Management has bought 55ip, which helps financial advisors build tax-efficient investment strategies for their clients. Read More → TD Bank's profits reflect Canada's easing coronavirus fears Digital metrics in TD's Canadian retail unit also suggest that lessened pandemic concerns may be leading fewer customers to rely on digital channels. Read More → RESEARCH IN FOCUS Usage-Based Auto Insurance In this report, Insider Intelligence evaluates the growth opportunities within UBI, outlines the model's benefits, and highlights key players in the space. The report profiles three incumbents and one insurtech within the UBI space and details information about their onboarding process, IoT devices, data collection, and pricing. Get the full report → Canada Banking Tech Spend Forecast In this brand new report, Insider Intelligence highlights the underlying factors that we expect to remain as significant drivers or inhibitors of Canadian banks' IT/tech spend through 2024. These factors include: The economic slowdown, banks pushing to enhance their customer experience, and rising cybersecurity expenses, among others. Get the full report → The Global E-Commerce Landscape In this brand new report, Insider Intelligence highlights the underlying factors that we expect to remain as significant drivers or inhibitors of Canadian banks' IT/tech spend through 2024. These factors include: The economic slowdown, banks pushing to enhance their customer experience, and rising cybersecurity expenses, among others. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: newsletter@newslettercollector.com Manage your email preferences | Unsubscribe | Terms of Service | Privacy Policy © 2020 Insider Inc. 1 Liberty Plaza, New York, NY 10006