Cyber Monday poised to mark record for US online retail sales

At Amazon's JFK8 distribution centre in Staten Island, New York, United States, Nov 25. On Cyber Monday, Amazon, one of the biggest beneficiaries of the pandemic-induced shift away from physical stores, did not appear to have any major technical glitches. — Reuters

Cyber Monday was set to become the biggest online shopping day ever for the United States, garnering up to US$11.4bil (RM46.5bil) as the coronavirus pandemic prompts consumers to stay at home and turn to the Internet for their holiday shopping needs.

The robust performance comes despite nearly two months of offers since Inc held its Prime Day sales event in October, with retailers seeking to recoup business lost during this year's Covid-19-driven closures of malls and stores.

Estimates from Adobe Analytics showed this year's conclusion to Thanksgiving weekend promotions would come in between US$10.8bil (RM44.1bil) and US$11.4bil.

While that was down from an earlier estimate of as much as US$12.7bil (RM51.8bil), it still easily surpasses this year's Black Friday figure of US$9bil (RM36.7bil), which was the strongest Black Friday online sales result to date, as well as last year's Cyber Monday total of US$9.4bil.

Consumers are likely to keep up that spending too, said Taylor Schreiner, director of Adobe Digital Insights.

"While Covid-19, the elections and uncertainty around stimulus packages impacted consumer shopping behaviours and made this an unprecedented year in e-commerce, we expect to see continued, record-breaking e-commerce sales from now until Christmas," Schreiner said in a statement.

Adobe said top-selling items included hoverboards, televisions from LG Electronics and Samsung Electronics, Apple Inc's AirPods and watches and the Nintendo Switch.

Amazon, one of the biggest beneficiaries of the pandemic-induced shift away from physical stores, did not appear to have any major technical glitches during the day.

Bill Hon, 49, a cook in Crawfordsville, Indiana, said Amazon was still drawing his business despite offers from other firms.

"I go online a little bit and look around and do some comparison shopping, but Amazon pretty much beats everything," he said.

Amazon alone has needed to add hundreds of thousands of staff to its rosters to meet demand for home delivery during the pandemic. Its third-quarter sales jumped 37% to US$96.1bil (RM391.94bil). – Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Did you find this article insightful?


100% readers found this article insightful

Next In Tech News

Google says to block search engine in Australia if forced to pay for news
Amazon to raise fees on Spanish vendors due to new digital tax - report
Alphabet shutting Loon, which used balloon alternative to cell towers
Long road for Tesla in India with infrastructure, supply chain woes
Barking mad: Dutch buy delivery uniforms, borrow dogs online to dodge curfew
Singapore Exchange, Temasek tie up for digital asset venture
Uganda to maintain Facebook ban indefinitely, New Vision says
Privacy fears as Indian city readies facial recognition to spot harassed women
Bitcoin steady near US$32,000 after slump that rattled crypto boom
Facebook’s oversight board to rule on Trump ban

Stories You'll Enjoy