Business

Cyber Monday Sales Poised to Top $9.4 Billion

Cyber Monday sales were on course to bring in a record $9.4 billion, according to early estimates, building on a bumper Black Friday weekend for retailers driven by earlier-than-usual promotions and free shipping.

Shoppers have already had nearly a month of special offers and deals as retailers look to draw out their vital holiday season, which is six days shorter this year due to a late Thanksgiving.

Estimates from Adobe Analytics on Dec. 2 predicted that some $72.1 billion has been spent online in the past month, with Cyber Monday—now traditionally the U.S. economys biggest internet shopping day—logging $473 million as of 9 a.m. ET.

Amazon.com Inc and other traditional retailers such as Target Corp and Walmart have beefed up delivery services to fulfill online orders faster as more customers shop on their mobile phones and tablets at home.

“At the end of the day, Cyber Monday is just Black Friday revisited so the momentum, and the deals, really started last week,” said Carol Spieckerman president at consultancy Spieckerman Retail.

“Retailers click and collect capabilities are running more efficiently, online shopping is more intuitive … Amazon isnt the only one wearing the convenience crown this year.”

Penthouse Protest

It may not all be smooth sailing for the worlds biggest online retailer. Amazon warehouse workers, community groups, unions, and elected officials, were set to march outside company chief Jeff Bezos Fifth Avenue penthouse, citing poor treatment of workers and rising climate emissions from the companys push for speedier deliveries.

Activists also staged protests across France on Nov. 29 and tried to blockade a shopping mall in Paris, denouncing the spread of Black Friday to European shores.

Target and Walmart have also taken aim at the company this year by making free shipping or same-day in-store pickups widely available. CommentatorsRead More – Source

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