By Ariana McLemore
Thank you for reading this post, don't forget to subscribe!NEW YORK (Reuters) – U.S. sales were initiated by major retailers such as Amazon, Walmart, Target, and others on Monday and Tuesday, featuring discounts on a restricted assortment of products six weeks ahead of Black Friday, which is one of the largest shopping days of the year.
Deloitte predicts a total increase in goods sales of 3.5% to 4.6% between November and January, reaching $1.54 trillion to $1.56 trillion.
In recent years, retailers like Amazon and Walmart have attempted to augment their revenue and generate more demand by hosting early-October online holiday shopping events.
Through its Prime Big Deal Days starting on Tuesday, Amazon encouraged shoppers to register for limited-time offers and sales on a few items, including air fryers, sparkling water makers, and men’s watches.
Neil Saunders, the managing director of GlobalData, stated that the use of flash sales and limited-access deals by retailers is an effort to recreate the hype of “door buster deals” that enticed shoppers to make impulsive purchases on Black Friday, often encouraging them to wait in queues outside shops like the previous year.
According to a KPMG survey, inflation remains a primary concern for holiday shoppers, leading some to search for discounts on potential gifts.
Matt Kramer, KPMG’s consumer and retail national sector leader, mentioned that shoppers are now more “knowledgeable” and tend to research for more discounts and coupons before making purchases.
Some bargain hunters may skip the October shopping events and wait until Black Friday, which is the day after US Thanksgiving, or Cyber Monday, which is the Monday after Thanksgiving, to purchase high-ticket items such as tablets, laptops, and televisions.
Walmart, which unveiled discounts for its four-day holiday kickoff event at noon on Monday, featured deals on Dyson vacuums, HP laptops, and Apple products, just like Amazon and Target did.
Target launched seven days of deals during the first week of October with the hope that shoppers would opt for its discounts on Lego toy sets, Apple Watches, and home goods. The Target Circle event began about a week before the October sales event in 2022.
(Reporting by Ariana McLemore in New York; Editing by Jamie Freed)
Source: ca.finance.yahoo.com
