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Cyber Monday Anticipated to Drive High Revenue for Retailers

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Cyber Monday Anticipated to Drive High Revenue for Retailers

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Following the conclusion of Thanksgiving and Black Friday, accompanied by only a few reported incidents nationwide, the focus now shifts to Cyber Monday as the holiday shopping frenzy continues. Retailers across the United States are optimistic about the upcoming sales season.

Despite challenges in the supply chain affecting inventory levels in some stores and the emergence of the Omicron variant, retailers remain confident in the health of the holiday shopping season. The National Retail Federation predicts approximately 158.3 million in-person shoppers on Black Friday and at least 62.8 million consumers engaging in online shopping activities on Cyber Monday.

“We are poised for yet another successful holiday season, with Thanksgiving weekend traditionally playing a pivotal role,” remarked Matthew Shay, the President and CEO of NRF, in an earlier statement.

Surprisingly, the supply chain challenges have not hindered sales but, in fact, may have propelled them. Many consumers flocked to physical stores on Black Friday and earlier, hoping to secure their holiday purchases before stocks depleted, a trend that appears to be continuing in the online sphere.

“Black Friday has transcended its traditional single-day status, and this year witnessed early Christmas shopping as some consumers started browsing as early as Halloween,” Shay noted.

Despite robust sales, stores are grappling with inventory shortages. Per a CNBC analysis, the occurrence of out-of-stock notifications on various e-commerce platforms surged by 124% compared to the previous holiday season. While sales and foot traffic remain below pre-pandemic levels, improvements have been observed since the subdued in-person shopping experiences of 2020.

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