Amazon has announced “record-breaking” sales during the period from November 17 to Cyber Monday, marking its “biggest ever” holiday shopping event compared to the same 11-day stretch the previous year. While the e-commerce giant did not disclose specific sales figures, it revealed that customers worldwide purchased over 1 billion items during this period.
In response to evolving consumer habits and the rise of online shopping, retailers have shifted their strategies, offering promotions well ahead of traditional shopping days like Black Friday. Amazon extended its holiday shopping event to 11 days, starting with Prime Big Deal Days in October, in an effort to accommodate more deals and make shopping more convenient for customers.
Doug Herrington, CEO of Worldwide Amazon Stores, highlighted the success of the extended holiday shopping event, stating, “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.”
Although specific sales figures were not disclosed, Amazon mentioned that popular products during Black Friday and Cyber Monday included items such as COSRX Snail Mucin skincare, Fire TV sticks, Ring doorbells, and Bissell vacuum cleaners.
The enthusiasm for online shopping extended beyond Amazon, with U.S. shoppers spending a record $12.4 billion on Cyber Monday, marking a 9.6% increase from the previous year, according to data from Adobe Analytics. This figure exceeded initial expectations, which projected sales of $12 billion. The broader Cyber Week, spanning the five days from Thanksgiving to Cyber Monday, saw online sales reach $38 billion, surpassing Adobe’s forecast of $37.2 billion.
Despite concerns over inflation impacting consumer spending, the holiday shopping season has proven resilient. However, rising grocery prices and the resumption of student loan payments have prompted caution among retailers and analysts, as these factors may impact some shoppers’ budgets during the festive season.