A fast-moving conveyor moved thousands of packages to delivery trucks on Cyber Monday at Amazon’s fulfillment center in Robbinsville, New Jersey.
John Felton, senior vice president at Amazon, said this is a record-breaking Cyber Monday. “We just came out of a record-breaking Black Friday event, and we’re rolling into Cyber Monday with more deals, better prices, better selection. So we’re really excited about it. And it’s been a great kickoff to the holiday season so far,” he said.
The Adobe Analytics report is predicting Cyber Monday spending of $11.2 billion to a record $11.6 billion, an increase of up to 8.5 percent from a year earlier, as discounts on everything from pajamas to AirPods drive shoppers to click “add to cart” even under the strain of inflation.
“Cyber Monday started out, I would say, probably a little more electronics-focused,” “said Felton. “So a lot of PS5s, a lot of Xboxes, a lot of video games, a lot of headphones, earbuds. So but it’s been, yeah, it’s overall it feels like a very gifting holiday season, and people are excited to kind of…to try to find great deals and try to find the value on Amazon.”
Cyber Monday sales fell 1.4 percent last year as retailers spread out promotional deals across weeks from as early as October to better manage inventories amid widespread product shortages.
However, big single-day shopping events appear to be back in vogue this year, with major retailers including Target, Macy’s, and Best Buy expecting a return to pre-pandemic shopping patterns.
Target’s website on Monday advertised discounts of up to 40 percent on Hot Wheels toys and holiday decor, while Amazon offered up to 70 percent off on its Echo speakers.
Walmart and Best Buy websites also showed discounts worth hundreds of dollars on high-end laptops and televisions.
Shoppers will find record discounts today for computers, peaking at 27 percent off the listed price, while nearly all other categories, including apparel, toys, and furniture, also have double-digit discounts, Adobe said.
U.S. shoppers spent a record $9.12 billion online on Black Friday, according to Adobe Analytics.
However, with sporadic rain in some parts of the country, brick-and-mortar stores and malls saw thinner crowds than usual.
By Reuters (Production: Aleksandra Michalska)