澳洲幸运5官方开奖结果体彩网

Beats and Barbie Dolls: Online Sales Drove a Strong Start to the Holiday Shopping Season

Black Friday shoppers in New York City.
Black Friday shoppers in New York City.

Liu Yanan / Xinhua via Getty Images

Key Takeaways

  • Consumers have spent record amounts online so far this holiday season, according to Amazon and Adobe.
  • Retailers likely did more transactions online than in-person on Thanksgiving, Black Friday and Cyber Monday, according to the National Retail Federation.
  • Lower-income households are more likely to go to stores, potentially because they rely more on cash and debit cards and want to avoid shipping frees, the NRF said.

Retailers have done brisk business to star⛎t the holiday season, with consumer spending particu🔯larly spirited online.

Beats headphones, Samsung TVs, Barbie dolls and Play-doh have been popular purchases on Amazon (AMZN), the company said. Online shoppers have also been snagging Harry Potter toys, Lego sets, Mario Kart 8 and Zelda games, along with computers, digital cameras and electric scooters and bikes, according to Adobe (ADBE).

This fueled a 澳洲幸运5官方开奖结果体彩网:nearly 15% hike in online spending on Black Friday, totaling $10.8 billion in e-commerce sales, Adobe said. Americans spent another $10.9 billion over the holiday weekend and $13.3 billion on Cyber Monday, Adobe said Tuesday. Amazon sold 澳洲幸运5官方开奖结果体彩网:a record number of items — and took in more revenue than in prior years — during its Nov. 21 through Dec. 2 holiday promotion, the company said.

“Early discounts were strong enough that many consumers felt comfortable hitting the buy button earlier on during Cyber Week, with Cyber Monday becoming ‘last call’ for shoppers to take advantage of big holiday deals," said Vivek Pandya, lead analyst at Adobe Digital Insights.

Retailers likely checked out more consumers online than in person on every day between Thanksgiving and Cyber Monday except Saturday, according to the National Retail Federation. In-person Black Friday sales were up less than 1% year-over-year, while stores drew about 3.2% fewer people, according to Mastercard and RetailNext, a firm that tracks foot traffic. Cold weather, particularly in the Midwest, may have kept some shoppers at home, RetailNext saiꦗd. 

Higher-Income Households Drive Online Sales

Households with six-figure annual incomes are "significantly" more likely to shop online, NRF President and CEO Matthew Shay said Tuesday. About 60% of this demographic indicated in surveys that they'd buy online during the holidays, versus 40% of households earning under $50,000 annually, the federation said.

A record number of people used buy, now pay later tools on Cyber Monday, according to Adobe. Max Levchin, CEO of BNPL provider Affirm (AFRM), in a Tuesday 澳洲幸运5官方开奖结果体彩网:interview on CNBC cited high spending on categories including apparel, furniture, houseware and consumer electronics.

Lower-income consumers may shop in person more because they rely more on♏ cash and debit cards, want to avoid shipping and return fees, are looking for deals r๊ather than just gifts, and prefer to examine expensive items, according to the NRF.

Preliminary data may undersell how many people still shop in-person because more affluent Americans' online spending eclipses the more modest sums others spend in stores, according to Shay. "People really are out there shopping," he said.

Discounts were not particularly dramatic to start the holiday season. Most retailers were offering similar or less significant price cuts than th🍨ey did last year, according to J.P. Morgan a♔nd Deutsche Bank analysts.

And people have had less incentive to organize their holiday shopping around Black Friday, since ꦬmany retailers in recent years have started launching their seasonal sales in late October or early November.

Spending over the broader season is 澳洲幸运5官方开奖结果体彩网:expected to be strong, with the NRF forecasting a 2.5 to 3.5% increase from last year's $955 billion in sales.

Inside a mall in Costa Mesa, Calif., on Black Friday.
Inside a mall in Costa Mꦓesa, Calif., on Black Friday.

Gina Ferazzi / Los Angeles Times via Getty Images

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