Amazon Inc. says Cyber Monday was the biggest shopping day in the company’s 25-year history. The Seattle-based retailer also says it had its best Black Friday ever.
Amazon didn’t provide sales figures, but said “hundreds of millions” of products were purchased worldwide between Thanksgiving and Cyber Monday.
Amazon says customers worldwide purchased more toys on Black Friday and Cyber Monday than ever before. Whole Foods Market, which Amazon purchased more than two years ago for $13.7 billion, set a record for turkeys sold during the Thanksgiving season for the third consecutive year.
Though many retailers expressed concern because there are six fewer shopping days between Thanksgiving and Christmas this year than last, consumers are spending at record levels. Adobe said that Cyber Monday sales overall reached $9.4 billion, a record high and almost 19% higher than last year. The National Retail Federation predicted in October that holiday retail sales would grow between 3.8% and 4.2% this year over 2018 to a total of about $730 billion.
Twenty percent of consumers will take on debt this holiday season, according to another report by LendEDU, a website that helps consumers compare financial products. Forty-seven percent of consumers will do their Christmas shopping on Amazon, where items are cheaper than identical Walmart items by 0.89% overall.