amazon had its best sales weekend ever of the company during the past days of Thanksgiving, Black Friday and Cyber Monday, as reported through a statement.
The company said it achieved that figure driven by a record number of consumers who look for deals online amid high inflation.
Although Amazon doesn’t usually share how much it makes during its sales events and didn’t disclose its overall weekend revenue, it said independent businesses selling on its site generated more than $1 billion dollars.
About 196 million people shopped in stores and online during the five-day shopping window that ran from Thanksgiving to Cyber Monday, 17 million more compared to last yearaccording to the National Retail Federation (NRF), a trade group.
He also pointed out that consumers spent an average of $325 dollars over the weekend on holiday-related purchases, up from $301 last year.
Although higher commodity prices could be part of the boost, the National Retail Federation and other retail store monitoring groups have said that higher demand is also driving growth.
Adobe Analytics, which tracks transactions at more than 85 of the top 100 US online stores, said consumers spent $35.27 billion over the holiday weekend, 4% more compared to last year.
Higher demand could indicate that budget-conscious shoppers are eager for offers.
Although retailers launched many discounts even before Black Friday and that will extend throughout the entire holiday season, consumers seem to be confused about the amount of purchases they should make.
Higher prices on all sorts of items have made people reconsider what you are buying and who you are buying it for.
But as spending has increased, more consumers have also resorted to dipping into their savings, purchasing items with credit cards and using grocery services. “buy now, pay later” They do not have interest charges, but they do have late fees.
You may also like:
– Dollar Tree’s strategy of raising its prices to $1.25 worked: its sales increase 8.6%
– Inflation: how the price of Thanksgiving dinner has increased in the last 20 years
– Christmas 2022: inflation generates uncertainty in retailers and consumers
Source: La Opinion
