Holiday Sales Being Dominated By Amazon
Amazon is doing well for itself in dominating the market this holiday shopping season. Adobe Digital Insights estimated that there has been at least $9 billion in holiday shopping so far, just from Thanksgiving Day to the following Sunday. Cyber Monday also saw sales in the billions too. It's estimated by InternetRetailer.com that Amazon saw at least $4.74 billion worth of purchase exchanges on its site from Thanksgiving to Cyber Monday.
Within that 5-day period, that would mean Amazon accounted for roughly 37 percent of all online purchases.
Some estimates say that it could be even higher than that. Wal-mart is also trying to compete hard this holiday season, they introduced sales many days before Black Friday began, in an effort to try and bring-in the crowd and compete with Amazon. But they aren't expected to do as well as Amazon this season, and neither is Target. It's clear that Amazon is leading the pack, while Wal-Mart sales are lagging behind.
Even Warren Buffet's Berkshire Hathaway Inc. recently cut down on their holdings of Wal-Mart shares, and that is the 3rd consecutive quarter that they've lowered their stake in the company.
Thanks to the success that Amazon has had recently, it's estimated that at least 149,000 more jobs have been created with the company. And some consumer reports have seen a large majority of shoppers say that they plan to do most of their holiday shopping online via the Amazon site. Because why go out and brave the cold weather, traffic, and large crowds, when you can sit at home comfortably and have the package delivered to you instead?
Millions of people are going to be doing their holiday shopping on tablets, smartphones, laptops and other computers this year, and Amazon is ready to take a big piece of the pie.
It's estimated that holiday sales this year are going to exceed $100 billion.
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Matthew Staver—Bloomberg Bloomberg via Getty Images
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Sources:
http://time.com/money/4586687/amazon-2016-holiday-shopping-season-sales/
http://fortune.com/2016/11/21/walmart-black-friday-sales/
http://www.theglobeandmail.com/globe-investor/investment-ideas/buffetts-shrinking-wal-mart-stake-signals-amazon-holiday-threat/article33236723/
http://www.forbes.com/sites/walterloeb/2016/11/21/amazon-sees-double-digit-christmas-2016-growth-while-walmart-and-target-hope-for-flat-sales/#455d20f6746e
http://fortune.com/2016/11/16/holiday-shopping-100-billion/
http://www.digitaltrends.com/mobile/amazon-shopping-app-launched-due-to-play-store-policy-change/
Good article man
We get screwed by Amazon like everywhere else for pricing and selection here in #Canadastan - but they sure make it easy to take our money overall for things you need.
I have bought a ton of my bushcraft and high end outdoors stuff from them as a Prime member.
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