Holiday sales are anticipated to top $929 billion this year.
As the holiday shopping season gets closer, companies are scrambling for their share of an expected $929.15 billion in sales from November and December. Within that spend, more than 10% of total sales will happen online, and Amazon is the undisputed king of that market.
Feedvisor, an algorithmic and machine learning company focused on marketplace sellers, conducted an analysis of Amazon order volume and peak sales days starting on Halloween 2016 through this year’s Prime Day, with a focus on the holiday season. Here’s what they found:
Most retailers rely on the lucrative fourth quarter with its holiday shopping season to help boost sales for the year. Last year, Amazon’s Cyber Weekend sales increased 18 percent to reach $260 million in first party sales over the four-day period, according to research from e-commerce research firm One Click Retail. "There is every reason to believe that Amazon will continue this growth trend and remain the most profitable sales channel for vendors going into the 2017 holiday shopping season," One Click Retail researchers said.
Approximately three-quarters of all holiday shoppers and 90% of Amazon Prime members expect to make purchases through Amazon this year, while just half of consumers said they plan gift shopping at Target and Walmart, according to a report from consulting firm Fung Global Retail & Technology. Ecommerce is gaining in popularity, set to overtake physical stores this holiday. The report found that 82 percent of shoppers anticipate buying gifts online, compared to 77 percent shopping in physical stores.