Dive Brief:
- Amazon said in a Wednesday press release that the 2022 Thanksgiving weekend was its biggest holiday shopping weekend ever and that it sold “hundreds of millions” of products during the period. The e-commerce giant declined to share exact figures with Retail Dive regarding how many products it sold between Thanksgiving and Cyber Monday and how much revenue it generated compared to previous years.
- The company said home, fashion, toys, beauty and Amazon devices were among the top-selling categories. Amazon’s Echo Dot and Fire TV Stick, and Apple’s AirPods, were some of the best-selling items during that weekend. Champion and New Balance apparel also did well.
- Shoppers spent more than $1 billion with small businesses, per the press release. Among the most purchased items from small businesses were games like “What Do You Meme? Family Edition” and “Kids Against Maturity: Card Game For Kids and Families.”
Dive Insight:
Multiple reports suggest that this year’s Thanksgiving weekend sales were up over last year. Adobe Analytics found that Cyber Monday sales grew 5.8% compared to 2021, reaching $11.3 billion. Meanwhile, research from the National Retail Federation found that a record 196.7 million people shopped online and in brick-and-mortar stores between Thanksgiving and Cyber Monday. Digital channels like mobile also thrived: Another Adobe report found that mobile shopping on Thanksgiving Day rose 8.3% year over year and comprised 55% of online retail sales.
Amazon, too, is touting a record shopping weekend, although the company declined to share precise figures. The results come after a slightly underwhelming October sales event for the retailer. The Prime Early Access sale was estimated to have fallen short of Amazon’s annual Prime Day sale over the summer, and Numerator found that the average order size dropped 23% to $46.68 when compared to its July sale.
Adobe found that the retailer’s Prime Day event over the summer saw online sales rise by 8.5% year over year to $11.9 billion, but even that holiday was shaped by negative trends. Consumers spent much of their Prime Day budget on essentials and smaller purchases, according to data from Numerator.
“This was a record-breaking holiday shopping weekend for Amazon. Customers shopped millions of deals this weekend and we have many more amazing deals to come,” Doug Herrington, CEO of Worldwide Amazon Stores, said in a statement.
Even as Amazon teases its sales growth, the retailer is preparing to cut back its workforce. In November, the company announced plans to lay off about 10,000 employees, focused on its retail division, among others. Shortly after making that announcement, the company said it might cut its workforce even further next year, focusing on its stores, and the people, experience and technology team. During its third-quarter earnings call, the company cautioned that its profits could disappear in Q4, with operating income projections ranging from $0 to $4 billion.
While Amazon plans to reduce its employee headcount, it also faces pressure from labor unions over its wages and working conditions. In September, the company announced that it would spend almost $1 billion on pay increases for its frontline staffers in the U.S., a move it made after workers in its Staten Island fulfillment center unionized that spring. During Black Friday weekend, Amazon workers planned strikes in the U.S. and other countries as part of the “Make Amazon Pay” campaign, Business Insider reported.
