While economic fundamentals will be challenged, the holiday season will not be without its silver linings—much of it stemming from ecommerce. That begins with the first-ever $10 billion digital spending day expected on Cyber Monday.

As a result, any transaction or volume increase that payments and commerce companies see in segments like digital volume or ecommerce would likely be countered by an overall decline in spending—the likely reason driving firms like PayPal, Mastercard and Visa to revise revenue estimates downward. Fintech. 1.

“We still expect H2 to show some stabilization obviously compared with the heavy decline in Q2, which was from national TV,” said Vincent Letang, executive vice president of global market intelligence at media agency Magna Global. “We think the return of sports is a major factor, since at least 20% of national TV spend is linked to sports events.”