Consumers spend less than last year but it still remains the biggest shopping day of the year
Final sales for Cyber Monday fell short of estimates and didn’t surpass last year’s record as lacklustre sales and scarce inventory kept shoppers from breaking out their credit cards during the start of the holiday shopping season.
Hot sellers included LOL Surprise dolls, Lego sets and Star Wars toys. Discounts were weak compared with a year earlier. For example, electronics had average discounts of about 12% compared with 27% last year, according to Adobe, which tracks 1-trillion visits to retail websites and monitors sales of more than 100-million products.
The overall spending uptick is good news for merchants that sell on Amazon.com, so long as they got inventory into the US in time. Some Amazon aggregators — businesses that raise money to buy and invest in popular Amazon brands — said sales are up as much as 50% from a year ago for products that make good gifts and are adequately stocked.
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