- Amazon said it posted record-breaking sales between Black Friday and Cyber Monday.
- Meanwhile, US shoppers spent $10.7 billion on Cyber Monday, a 1.4% drop from a year-ago level, according to data from Adobe Analytics.
- Popular buys on Amazon included Apple AirPods, Fire TV Sticks, and the Revlon One-Step Hair Dryer.
Amazon said Tuesday that it posted record-breaking sales during the post-Thanksgiving rush, providing an upbeat outlook for a holiday shopping period for the retail industry.
In a blog postAmazon said that household goods, toys and apparel were among the top categories in the period from Black Friday to Cyber Monday. Popular buys included Apple AirPods, Fire TV Sticks, and the Revlon One-Step Hair Dryer.
Amazon did not disclose sales figures for the two notable shopping days, which are usually the busiest during the holiday period. Analysts and investors will have to wait for Amazon’s fourth-quarter results in late January or early February for a full picture of the buying season.
US shoppers spent $10.7 billion on Cyber Monday, down 1.4% from a year-ago level, according to data from Adobe Analytics. Adobe said Black Friday online sales also fell slightly from last year’s total, with retailers recording $8.9 billion in sales.
According to preliminary data from Sensormatic Solutions, purchases at physical stores increased significantly compared to last year, when the pandemic kept consumers glued to the couch, with traffic down 28% from 2019 levels.
Amazon, with its vast marketplace, next-day delivery options, and competitive pricing, continues to grow regardless of macro conditions. The company captured 17.7% of Black Friday dollars this year, according to data from meter, more than any other retailer.
Amazon on Tuesday said it offered the lowest prices, on average, 14% compared to rival retailers, citing data from market research firm Profitero. This is partly because other retailers don’t offer the same discounts as before. For example, according to Adobe, electronics were marked down 12% on Cyber Monday, down from 27% a year ago.
Despite a slow start for the sector, Adobe still expects to see record-breaking online sales during the holiday season, as Americans are spreading their spending over a longer period rather than cramming it into the four days after Thanksgiving.
Retailers also opted to start rolling out their holiday deals well before Black Friday. In the case of Amazon, the deal started in October. And many shoppers started buying gifts earlier this year due to delays and lack of supplies.
Amazon said it took additional measures to prepare for congestion, such as directing goods to different shipping ports and choosing more expensive delivery routes to receive items where stocks are low.
Watch: Amazon exec on the supply chain: How customers should be finding what they need during the holidays