According to Amazon, Black Friday and Cyber Monday 2018 were the biggest shopping days in its history smashing all the records that had been set previously. Amazon didn’t release any specific figures, though. However, a statement released on Tuesday said that Cyber Monday, in particular, was the biggest shopping day in the history of the company. The statement did also note that most of the products ordered cut across borders to various countries around the world.
The e-commerce giant says that the period between Thanksgiving Day and Cyber Monday broke records in terms of the amount of shopping done. The company called this period “Turkey 5” and it seems it was another success. Millions of products were sold during this period which is way more compared to the same time last year. However, this is not the first time that Cyber Monday and Black Friday have been breaking records for the company. It just seems like year after year the e-commerce giant has been able to improve its performance and break previous shopping records.
Amazon says that this is an indication that consumers like shopping for deals and this will not change anytime soon. A report by Adobe Analytics had actually predicted that Cyber Monday 2018 would be the biggest single shopping day ever in the US. The report estimated that US shoppers were looking to spend over $7.8 billion on Cyber Monday. This represented an 18% increase compared to the same period in 2017.
Although in the past Black Friday used to have the biggest share of shopping, the shopping practices around the country have changed in recent years. People are more comfortable with taking their time looking for deals and this takes them through from Black Friday to Cyber Monday. The sales recorded between Black Friday and Cyber Monday are not yet clear but based on the statement released by Amazon it does seem that this was actually a very good time for retailers too. Some experts note that Black Friday is no longer the one-day shopping bonanza it used to be but rather a prelude to Cyber Monday which delivers the ultimate culmination of deal shopping.
Despite Amazon’s success in Cyber Monday this year, it’s still yet to catch up with Singles Day, a similar deal shopping day in China offered mostly by the Chinese e-commerce giant Alibaba. Recent data shows that overall sale volumes in Singles Day are roughly four times more than Amazon’s Cyber Monday. This year alone, Singles Day is estimated to have raked in over $30 billion in sales over a period of just 24 hours. This makes it the biggest single day shopping event in the world.
Alibaba has dominated the Chinese e-commerce space for years and even though Amazon has tried to expand its presence in other Asian countries, it’s yet to set base in China. The American e-commerce giant is, however, happy with the progress made on this year’s Cyber Monday as it looks forward to another big sale next year.