Monday, November 27, 2023

NBC News, Reuters, and WION recap Black Friday and look ahead to Cyber Monday

Happy Cyber Monday! I begin with a recap of Black Friday shopping compared to the sales anticipated today from NBC News reporting Cyber Monday countdown is on after slow start to brick-and-mortar sales.

With just hours until the busiest online shopping day of the year, consumers are readying for one more chance to find deep discounts. NBC News’ Brian Cheung has more on the countdown to Cyber Monday deals after a slow start to the season’s brick-and-mortar sales.
Sales up 2.5% over last year looks good until one hears that the increase is due to inflation, not more purchases. Sigh. As Reuters reported in US shoppers hold out for Cyber Monday bargains, consumers responded by holding out for better deals today.

Holiday shoppers in the US are seeking out the best deals and strategically nabbing the deepest discounts ahead of Cyber Monday, according to data from retailer websites aggregated by third parties.
"Discount chicken" — I like that better than WION calling it "discount diplomacy." I don't know if the idea of a game of chicken translates from the U.S. to India, even though we speak the same language. Watch Cyber monday to hit $12 billion as shoppers seize last-minute deals | World Business Watch | WION.

The holiday shopping season is in full swing in the U.S, and consumers are making headlines with their strategic pursuit of the best deals. Black friday saw a remarkable surge in online spending, hitting a staggering $16.4 billion in the U.S. We now gear up for the pinnacle of cyber monday, where a $12 billion e-commerce record is anticipated.
That would be a record, at least in nominal sales. Whether that would be a record in real retail sales remains to be seen.

The long holiday weekend concludes tomorrow with Giving Tuesday. Stay tuned.

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