Business & Investment

Cyber ​​Monday lacks estimates on supply shortages, weak trading

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Cyber ​​Monday’s final sales were below expectations and not above last year’s record due to sluggish sales and low inventories as shoppers were unable to break their credit cards at the start of the holiday shopping season.

According to Adobe Inc., US shoppers spent $ 10.7 billion on Cyber ​​Monday, less than $ 10.8 billion in the previous year, below Adobe’s estimate of $ 11.3 billion. But Adobe said it would continue to be the biggest shopping day of the year. Consumers spent $ 12 million per minute as the clock was ticked on the day’s final sales.

Vivek Pandya, Principal Analyst at Adobe Digital Insights, said:

A worker delivers a package on Cyber ​​Monday in New York. (Angus Mordant / Bloomberg)

The discount was weaker than the previous year. For example, according to Adobe, the average discount rate for electronic devices was about 12%, up from 27% last year. It tracks trillion visits to retail websites and monitors sales of over 100 million products.

Shipping bottlenecks and supply log jams are also causing problems for shoppers. According to Adobe, the incidence of out-of-stock messages increased by 169% compared to January 2020 and 258% from November 2019.

Big sale days such as Black Friday and Cyber ​​Monday gradually became less noticeable as shoppers spread their spending over longer periods of time. Black Friday spending was $ 8.9 billion, down slightly from a year ago, according to Adobe. Still, US online spending from November 1st to 28th increased 13.6% from a year ago to $ 99.1 billion. According to Adobe, November and December totaled $ 207 billion, up 10% from last year’s pandemic record.

The increase in overall spending is good news for merchants selling on Amazon.com Inc., as long as they are in stock in the United States. Some Amazon aggregators, companies that raise money to buy and invest in popular Amazon brands, give good gifts and increase sales of well-stocked products by as much as 50% from a year ago. I said that I am doing it.

Walter Gonzalez, CEO of Miami-based Goja, who sells a variety of products, including the Luna Vine plaster molding kit for making statues on Amazon, said: From your hands.

The brand group, which has sold more than 40 household goods, personal care and leisure brands on Amazon and raised $ 225 million to expand, is selling about 50% more products than it was a year ago. Co-founder and CEO Pierre Poignant said. A big seller of the company is a bottle opener in the shape of a bat-shaped wine bottle.

“Kitchen products are doing very well,” he said. “We made an investment to make sure we had enough stock for our vacation.”

Juozas Kaziukenas, founder and CEO of Marketplace Pulse, which monitors online sales, said the shift in store-to-website spending (accelerated during last year’s pandemic) has made the holiday shopping season boring. ..

“Physical Black Friday had this crazy aura as people fought in the store and camped outside,” he said. “Now I’m losing excitement because a lot of things are moving online.”

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Cyber ​​Monday lacks estimates on supply shortages, weak trading

https://www.ttnews.com/articles/cyber-monday-misses-estimates-short-supply-weak-deals Cyber ​​Monday lacks estimates on supply shortages, weak trading

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