Cyber Monday Was Amazon’s Biggest Shopping Day Ever
Was last weekend’s sales enough to boost Q4 expectations?
Online shopping mainstay, Amazon, announced that it had its biggest shopping day in the company’s history on Cyber Monday. The term “biggest shopping day” is looking at the number of products sold internationally. This means that this year Cyber Monday sold more products than Black Friday, Cyber Monday sold more products than Prime Day also.
Amazon continued to say that the five days starting with Thanksgiving and ending on Cyber Monday smashed retail records, thanks to U.S consumers buying millions of products more than last year. Despite Amazon not mentioning exact sales figures, they did say what products sold the best.
More than 18 million toys sold on Monday, with more than 13 million clothing items on Black Friday and Cyber Monday together. The Amazon App processed 4 million toys and electronics on Black Friday alone. Across Friday to Cyber Monday, Amazon sold more than 180 million products. Most of the best-selling products were Amazon’s own, the Echo sold “millions” worldwide according to Amazon. The Echo Dot model is the best selling product on Amazon.
The Fire TV Stick 4K and Fire 7 tablet were other great sellers. “Millions” of Fire tablets and Kindle’s sold as well. The best selling products over the weekend were the Echo Dot, Fire TV Stick 4K and Alexa Voice Remote, Harry Potter: 8-Film Collection and Instant Pot.
Amazon Share Price
Investors watched the Amazon share price rise over the weekend, with Black Friday and Cyber Monday sales being a large factor.
During Amazon’s Q3 earnings report, Amazon announced that its Q4 guidance was less than Wall Street analyst forecast. Amazon is expecting to see around $72.5 billion, with estimates of $73.8 billion.
Until Amazon’s Q4 earnings report comes around, it is impossible to determine wether last weekends sales will increase Amazon’s revenue.
Amazon also said that its worldwide small and medium-sized business increased growth by 20 percent on Black Friday (y-o-y). No sales figures were given.