Amazon reported on Tuesday that, with consumers still feeling the pinch from inflation, it saw “record-breaking” sales in the lead-up to Cyber Monday.
Comparing the same 11-day period last year to the time from November 17 to Cyber Monday, the business claimed that this year’s holiday shopping extravaganza was its “largest ever.” More than 1 billion products were purchased globally during the time, according to Amazon, which withheld actual sales data.
In an effort to attract early Christmas consumers, merchants have begun launching specials well in advance of Black Friday as more and more purchases are being made online. Large-scale shopping events such as Black Friday and Cyber Monday are becoming less significant, and people are more likely to spread out their holiday buying over several weeks as opposed to a single day, such as Thanksgiving weekend.
The CEO, Doug Herrington, stated, “We kicked off the holiday season with Prime Big Deal Days in October and extended our Black Friday and Cyber Monday holiday shopping event to 11 days to accommodate even more deals over more days to make shopping more convenient for customers — helping them save nearly 70% more than the same period last year.”
Over Black Friday and Cyber Monday, according to Amazon, customers tended to flock towards items like Bissell vacuum cleaners, Fire TV sticks, COSRX Snail Mucin skincare and Ring doorbells.
Adobe Analytics data released on Tuesday shows that U.S. shoppers spent a record $12.4 billion on Cyber Monday, up 9.6% from the previous year and exceeding original estimates of $12 billion in sales. Adobe’s estimated $37.2 billion in online sales was surpassed by $38 billion over Cyber Week, which is the five days between Thanksgiving and Cyber Monday.
Source (CNBC)
