Beginning Thanksgiving Day with a Cyber Monday finish, the five day holiday period brought in record breaking sales for the online giant, Amazon. This parallels what other retailers have experienced this shopping season.
During the Thanksgiving holiday shopping weekend, $1 billion in sales was reached by independent businesses.
Amazon commented on the holiday shopping weekend as the “biggest ever,” with consumers snagging hundreds of millions of products.
According to the National Retail Federation:
“It is important to note that while some may claim that retail sales gains are the result of higher prices, they must acknowledge the historic growth in consumers who are shopping in-store and online during the long Thanksgiving holiday weekend and into Cyber Monday. It is consumer demand that is driving growth.”
Holiday shopping increased with 20 million more shoppers than last season. With prices slashed, consumers were encouraged to still spend strong this year.
The most popular day for online shopping was black Friday, which has been a pattern since 2019. About 87.2 million consumers shopped online during Black Friday this year and 77 million people shopped online on Cyber Monday. Online Cyber Monday shoppers used their mobile device, which is up from 52% in 2021.
“The Thanksgiving holiday shopping weekend is a tradition treasured by many American families,” said NRF President and CEO Matthew Shay. “As inflationary pressures persist, consumers have responded by stretching their dollars in any way possible.
Consumers are at the halfway point with their holiday shopping, with more bargains and deals coming in December, as we round out the year. This was an achievement for Amazon and retailers as a whole, considering such inflationary times.
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