196.7 million Americans shopped in stores and online on the Thanksgiving Holiday Weekend
🛍️ 196.7 million Americans shopped in stores and online on the Thanksgiving Holiday Weekend.
This is a new record, according to the National Retail Federation and Prosper Insights & Analytics. The five-day holiday shopping period from Thanksgiving Day through Cyber Monday boasted the highest numbers since the organization first came to be in 2017, jumping nearly 17 million from 2021 numbers. This record far-surpassed expectation by more than 30 million shoppers. On average, shoppers spent $325.44 on holiday-related purchases over the course of the weekend.
Holiday shoppers are expected to increase their spending this year, but their focus on value and deals is likely to limit growth to pre-pandemic levels, says the National Retail Federation (NRF).
Companies across various industries are cutting back on customer perks as they prioritize higher profit margins.
Shopify experienced a 31% year-over-year increase in revenue during the second quarter, reaching nearly $1.7 billion, following the company's renewed focus on building e-commerce stores for brands.
Target is implementing various strategies to improve its delivery operations.
A hybrid shopper refers to a consumer who combines both online and offline shopping methods to make purchases.
Flexport is acquiring Shopify’s logistics business, which includes dozens of warehouses and sorting centers, as the digital freight forwarder aims to expand its e-commerce fulfillment operations.
Overall, while rising inflation and interest rates can put pressure on consumer spending, other factors such as consumer confidence, supply chain disruptions, shifts in spending patterns, and sector-specific factors can contribute to a jump in retail sales.
The massive retailer is being questioned by Democratic Sens. Bill Cassidy, Elizabeth Warren, and Sheldon Whitehouse in a letter over the company’s involvement with cotton sourced from China’s Xinjiang Uygur Autonomous Region.
The retailer has placed the blame on capacity constraints at U.S. distribution centers, citing that the company’s ending inventory had increased 58% year over year.
In a 2022 shopping survey conducted by Supply Chain Brain of 3,138 U.S. adults, 50% said that they did not begin holiday shopping until November.
According to figures from the National Retail Federation, that number is rising in comparison to the approximately 10% that account for in-person shoppers.
This is a new record, according to the National Retail Federation and Prosper Insights & Analytics.
Shortages of items from toilet paper to Play Station game consoles checkered the past two years, often causing a line of hiccups right around peak season - historically, the busiest time for the supply chain.
Consumers are starting their holiday shopping earlier than ever this year.
Popular retail brands like Zara and Boohoo in the United Kingdom are switching up their return policies for online shoppers.
‘Shrinkflation’ is a fun little term to describe what we suspected was true… yes, that container of ice cream did get smaller.
Shopify’s fulfillment network has been stretched thin.
Amazon is feeling the pressure from fast-fashion app Shein and has decided to cut referral fees for cheap clothing items in an effort to compete.