Cyber Monday Sales Record
2022.11.29 12:44
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Cyber Monday Sales Record
Budrigannews.com – According to Adobe (NASDAQ:) data, discount-seeking customers purchased more Pokemon cards, televisions, and air fryers on Cyber Monday, bringing total sales to $11.3 billion and making it the largest online shopping day in the history of the United States, Analytics.
According to data from Adobe Analytics, which analyzes purchases at 85% of the top 100 internet retailers in the United States to measure e-commerce performance, sales increased 5.8% from a year earlier, unadjusted for inflation.
It turned out that inflation-averse consumers had largely postponed their holiday shopping until the Black Friday weekend and Cyber Monday in the hopes of finding the best deals, despite the fact that retailers began offering discounts and promotions as early as October in an effort to increase sales.
Retail giants like Target (NYSE:), Macy’s (NYSE:) during traditional one-day shopping events, and Best Buy has indicated a return to pre-pandemic shopping patterns.
According to the Adobe Analytics report, toys were the most popular items on Cyber Monday; their online sales increased nearly eightfold in comparison to an average day in October 2022.
Sales of electronics increased by approximately fivefold, while sales of sporting goods, appliances, and books also increased by more than 400 percent.
Apple (NASDAQ:), Hot Wheels, PlayStation 5, Pokemon cards, and Smart TVsAirPods were among the most popular items.
The National Retail Federation reported on Tuesday that approximately 196.7 million consumers made purchases during the five-day holiday period that began on Thanksgiving Day and ended on Cyber Monday.
Graphic: Over the years, Cyber Monday sales at Canada’s Shopify (NYSE:) From Black Friday to Cyber Monday, Inc.’s merchants worldwide made $7.5 billion in sales, the company reported.
However, a bright Cyber Monday was not considered by some experts to be a sign that inflation was lessening its impact on consumer sentiment.
“Only about 15% of all retail sales are still made online.Therefore, it is not necessarily a good indicator of the overall health of the economy,” stated Dan North, senior economist at Allianz, a global insurer of trade credit (ETR:) North American Trade
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