tldrdaily.news logo
Tag

Holiday Shoppers

All articles tagged with #holiday shoppers

business2 years ago

Record-breaking Thanksgiving Day online sales drive holiday shopping frenzy

Online spending on Thanksgiving Day increased by 5.5% compared to last year, reaching $5.6 billion, as holiday shoppers responded to discounts and purchased more gifts online. The National Retail Federation forecasts a 3% to 4% increase in holiday spending compared to last year, indicating a slowdown from the pandemic-induced growth. While online sales are expected to climb further on Black Friday, it remains uncertain if this surge will lead to a strong overall holiday season. Retailers are offering sharp promotions and incentives to motivate shoppers, with major discounts seen in toys, electronics, and computers. Mobile shopping played a significant role, accounting for nearly 60% of Thanksgiving Day sales.

via CNBC|
#business#discounts#e-commerce
business2 years ago

Best Buy's Sales Forecast Cut as Holiday Shoppers Seek Deals

Best Buy has lowered its full-year sales forecast due to cooler demand and the expectation of price-conscious holiday shoppers. While the company beat earnings expectations, it fell short on revenue. Best Buy now expects revenue to range from $43.1 billion to $43.7 billion for the fiscal year, with a decline in comparable sales of 6% to 7.5%. The retailer also lowered the high end of its profit guidance. CEO Corie Barry stated that consumer demand has been unpredictable, but the company is prepared for a deal-focused holiday season. Best Buy's net income dropped in the third quarter, with revenue falling from the previous year. However, the company saw higher profitability through its membership program and favorable product margins.

via CNBC|
#best-buy#business#consumer-electronics