Amazon proclaims document gross sales after Thanksgiving amid lackluster Black Friday and Cyber Monday for retailers
Packages will be transported on a conveyor belt at an Amazon fulfillment center on Cyber Monday in Robbinsville, New Jersey, USA, on Monday, November 29, 2021.
Michael Nagel | Bloomberg | Getty Images
Amazon said Tuesday it had record-breaking sales during the post-Thanksgiving rush, offering an optimistic outlook on a Christmas shopping season that was lackluster for retailers.
In a blog post, Amazon said housewares, toys and apparel were among the top categories from Black Friday to Cyber Monday. Popular purchases included Apple AirPods, Fire TV sticks, and the Revlon One-Step Hair Dryer.
Amazon didn’t release sales for the two notable shopping days, which tend to be busiest during the holiday season. Analysts and investors will have to wait for Amazon’s fourth quarter results in late January or early February for a more complete picture of the shopping season.
According to data from Adobe Analytics, US shoppers spent $ 10.7 billion on Cyber Monday, down 1.4% year over year. Online sales on Black Friday were also down slightly year-on-year, with retailers reaching $ 8.9 billion in sales, Adobe said.
While shopping in physical stores increased significantly compared to last year when the pandemic kept consumers trapped on the couch, traffic was down 28% from 2019, according to preliminary data from Sensormatic Solutions.
Amazon continues to grow with its sprawling marketplace, next-day delivery options, and competitive pricing regardless of macro conditions. This year, the company took in 17.7% of the Black Friday dollar, more than any other retailer, according to Numerator.
Amazon said Tuesday that it offers the lowest prices compared to competing retailers, averaging 14%, citing data from research firm Profitero. That’s partly because other retailers haven’t given the same discounts as in the past. For example, according to Adobe, electronics were cut 12% on Cyber Monday, down from 27% a year earlier.
Despite the slower start for the sector, Adobe still expects record-breaking online sales during the holiday season as Americans spread their spending out over a longer period of time instead of cramming it into the four days after Thanksgiving.
Retailers also decided to launch their Christmas offers well before Black Friday. In the case of Amazon, the deals started in October. And many shoppers started buying gifts earlier this year because of concerns about delays and delivery bottlenecks.
Amazon said it had taken additional measures to prepare for the onslaught, such as:
SEE: Amazon Exec on the supply chain: Customers should find what they need over the holidays