American consumers snapped up more Apple Watches, iPhones, AirPods, Pokemon cards, and TVs on Cyber Monday, pushing sales to $11.3 billion, making it the biggest U.S. online shopping day in history, according to data from Adobe Analytics.
Sales, not adjusted for inflation, rose 5.8% from a year ago, per data from Adobe Analytics, which measures e-commerce performance by analyzing purchases at 85% of the top 100 internet retailers in the United States.
While retailers started promotions and discount offers as early as October to induce more sales, turns out inflation-weary shoppers had largely put off their holiday shopping until the Black Friday weekend and Cyber Monday in hopes of finding the best deals.
Toys were the hottest products on Cyber Monday, their online sales jumped nearly eight-fold… Electronics sales rose about five-fold, while sporting goods, appliances and books also saw increases over 400%.
Pokemon cards, Hot Wheels, PlayStation 5s, Smart TVs and Apple AirPods were among the best-selling products.
In October 2022, top selling toys online have included Squishmallows, Roblox figurines, Pokémon card games, and LOL Surprise dolls. Top electronics and gaming devices have included PlayStation 5, Xbox Series 5, Nintendo Switch, and Apple products (iPhone, Watch, and AirPods). Air fryers, eReaders, and mini fridges have also been top sellers.
MacDailyNews Take: Once again, Apple products play a large part in Cyber Monday sales!
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With 7.5% inflation increase then we need to see an increase of 17.5% in sales to equal the same amount of products per person. More many spent doesn’t mean more presents under the tree so to speak. But apple has a good job of not raising prices; With apple sitting on a 38% profit margin they have a little room to absorb price increases.
Christmas to some of us has nothing to do with the piles of presents under the tree, nor how much is spent ensuring all the VPs at Apple get their annual bonuses.
Other than you and Goeb, Apple’s target consumers obviously have plenty of free cash. As a business owner, would you reduce prices when demand is so high? If production is constrained due to supplier issues, should that prompt price reductions? Explain your logic to those of us who passed Econ 101. As a consumer, if the price is too high for you …. DON’T BUY IT.
Not bad for a Tim Cook.