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☆ Deal-hunters fuel $12 billion Cyber Monday shopping spree
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Eduardo Munoz Acquire Licensing RightsNov 27 (Reuters) - After a busy holiday shopping weekend, discount seekers are expected to spend between a record $12 billion and $12.4 billion on beauty products, electronics, toys and apparel on Cyber Monday, according to Adobe Analytics. Heavy online traffic and transactions could add up to a boost in sales by U.S. shoppers of 5.4% or more, according to Adobe. Shoppers spent $10.3 billion in the weekend leading up to Cyber Monday, up 7.7% from last year as retailers offered more discounts compared to last year. More merchandise was being discounted in the weekend leading up to Cyber Monday, according to a report from LSEG. Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, TJ Maxx, Jharonne Martis, LSEG, Rob Garf, Garf, Vanessa O'Connell, Deborah Sophia, Arriana, David Gregorio, Nick Zieminski Organizations: Workers, REUTERS, Adobe Analytics, U.S, Adobe, Shoppers, Adobe Digital, Walmart, Reuters, Costco, Commerce, Insider Intelligence, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce, Ross

☆ Price-sensitive US shoppers nab early 'Cyber Monday' deals
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +3 min

[1/3] Workers select and pack items during Cyber Monday at the Amazon fulfilment center in Robbinsville Township in New Jersey, U.S., November 28, 2022. Heavy online traffic and transactions could add up to a record $12 billion outlay by U.S. shoppers on Cyber Monday, according to Adobe Analytics. "You have consumers out there who are very price-sensitive and conscientious, and who want to make sure they get the very best possible deal." Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days. Last-minute shoppers on Monday could spend $4 billion between 6 p.m. and 11 p.m.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, Rob Garf, Garf, Vanessa O'Connell, David Gregorio Our Organizations: Workers, REUTERS, Adobe Analytics, Adobe Digital, Walmart, Adobe, Commerce, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce

☆ Shoppers click 'buy' as retailers slash prices ahead of Cyber Monday
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 26 (Reuters) - Holiday shoppers in the U.S. 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. Cyber Monday, as the first Monday after the Thanksgiving holiday has become known as merchants step up online promotions, is set to be the biggest online shopping day of the year in the United States. Despite an earlier start to retailers' holiday promotions this year, there weren't a lot of great deals initially, Garf said. And "consumers clicked the buy button," spending $16.4 billion online in the U.S. and $70.9 billion globally that day, according to Salesforce. Other firms use different measurements to gauge online shopping patterns.

Persons: Brendan McDermid, Rob Garf, Garf, Salesforce, Vivek Pandya, Pandya, Steve Sadove, It’s, Vanessa O'Connell, Leslie Adler Organizations: Westfield Shops, REUTERS, Commerce, U.S . Retailers, Adobe Digital, Adobe, Mastercard, Saks Inc, Thomson Locations: New York City, U.S, United States, Salesforce

☆ A 'returns tsunami' is about to deal a crippling blow to retailers
▼ + stars: | 2023-01-07 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

At the same time, retailers are bracing for a "returns tsunami" likely to hit in the next two weeks. "'More returns than ever' is the headline," said David Sobie, vice president of Happy Returns, which helps process and consolidate returns for retailers. A November Happy Returns consumer survey found that a third of shoppers planned to bracket heading into the holidays. Retailers have been dealing with high inventory since spring 2022George Frey/Getty ImagesBut even before this "tsunami" of returns hits, retailers were already dealing with too much inventory. But according to Baker, even with all those discounts, retailers' inventory troubles aren't over quite yet.

☆ Retailers are under pressure to turn deep discounts into big sales on Black Friday
▼ + stars: | 2022-11-25 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Shoppers walk past a sale sign as Black Friday sales begin at The Outlet Shoppes of the Bluegrass in Simpsonville, Kentucky, November 26, 2021. Jon Cherry | ReutersMajor retailers are under intense pressure to deliver on Black Friday after several of them reported a slowdown in sales heading into the do-or-die holiday shopping season. Best Buy CEO Corie Barry said shoppers are showing more interest in sales than usual. Barry, the Best Buy CEO, said the company's October sales were the slowest in the quarter compared with last year. She said Best Buy now expects customers to spend more during Black Friday, Cyber Monday and the two weeks leading up to Christmas.

Reuters GraphicsMelissa Benhaim, a 32-year old publicist in Miami, started her holiday shopping slightly later than usual this year. A Saturday shopping day between Thanksgiving and Christmas this year gives shoppers extra time to hold out for better bargains. Holiday shopping is expected to slow broadly. Reuters GraphicsBut toy prices, even with discounts, are up about 2.4%, DataWeave found. Shoppers are paying $16.99 for the toy this year at Kohl's, after discounts, compared to $11.54 last year, according to DataWeave.

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