Cyber Monday racked up $11.3 billion in online sales, according to Adobe Analytics, which reports a 5.8 percent increase over 2021’s spending of $10.7 billion (which was down slightly from 2020’s $10.8 billion). The 2022 result was a record for Cyber Monday and also for the year-to-date. Thanksgiving sales totaled $5.29 billion, while Black Friday hit $9.12 billion — both outperforming earlier forecasts. All in, “Cyber Week,” including the days off and workdays during which people continued to shop, is estimated to have tallied $35.27 billion in online sales, a 4 percent increase year-over-year. Continue reading Major Discounts Propel Cyber Monday to New Sales Record

Digital Black Friday shopping was brisk, with a record $9.12 billion spent, according to Adobe. Online sales were up 2.3 percent year-over-year for Friday, November 25, the day after Thanksgiving. Also a hit, Buy Now Pay Later payments increased by a whopping 78 percent over the prior week, beginning November 19, with inflationary pressures seeming to drive that pattern. Adobe tracks transactions on retail websites. Total seasonal revenue is estimated to top-out at $209 billion, Adobe says, noting that Cyber Monday alone accounted for $11.3 billion. U.S. consumers also spent more time and money shopping in stores on Black Friday than they did the same day last year. Continue reading Report: 2022 Online Sales Sets Another Record, Says Adobe

Chatsworth, California-based toy company MGA Entertainment has launched MGA Studios to produce video games, online universes and other ancillary content. The privately held MGA is backing the new division with $500 million to drive production and acquisitions. MGA’s catalog of successful toys includes the L.O.L. Surprise!, Bratz, Little Tike and Rainbow High brands, some of which have spawned TV series and games. MGA Entertainment founder and CEO Isaac Larian’s son Jason Larian is president of the new unit, which has acquired Australia’s Pixel Zoo Animation and named Pixel Zoo founder and CEO Paul Gillett an MGA Studios partner. Continue reading MGA Acquires Pixel Zoo Animation for MGA Studios Initiative

Google is stepping up in-app shopping, adding it to YouTube Shorts. “Doom scrolling is about to become doom shopping,” heralds the official blog of Nasdaq, where Google parent Alphabet trades. Now those parsing the YouTube feed of videos 60-seconds or less will have the option to purchase items instantly rather than through redirection to a third-party site. The move comes as Google and others saw digital ad revenue contract this year as a result of economic headwinds and increased competition — notably from TikTok, which is tracking to double its advertising income in 2022. Continue reading YouTube Shorts Testing In-App Shopping, Affiliate Marketing

Tech items are making the list this holiday season, with the Consumer Technology Association’s annual shoppers survey forecasting a record-breaking 78 percent of U.S. adults — nearly 199 million people — will purchase devices and related services this season. Streaming services, headphones and earbuds, mobile cases, smartphones and game consoles top the trade organization’s survey, the 2022 Hot Tech Holiday Preview. The seasonal projection marks a 4 percent increase over last year. The 78 percent of American shoppers who intend to purchase tech gifts in the coming months will spend an estimated $145 billion. Continue reading CTA: Streaming Services Will Be Focus for Holiday Shoppers

Live-stream shopping has been slow to take off in the U.S., but some feel the sector is at a tipping point. U.S. revenue from the format is projected to reach $20 billion this year and grow to $57 billion in 2025 says Coresight Research. However, that’s a drop in the bucket compared to the activity in Asia. McKinsey Digital says outlets like Alibaba can rack up more than $7 billion in 30 minutes. Estimates place the Asia-Pacific market at about $180 billion in live-streamed shopping for 2021. Now big players like Walmart, Target, YouTube and TikTok are getting serious about cracking open the U.S. market, too. Continue reading Retailers, Big Tech Get Behind Live-Stream Shopping in U.S.

TikTok is said to be partnering with Los Angeles-based TalkShopLive to handle its live shopping initiative in North America after an in-house UK effort produced lackluster results. Due to hit the U.S. in time for the holiday season, TikTok Shop will be built on technology and support from TalkShopLive as it positions live-stream shopping hosted by influencers, brands and retailers selling products on the short-form video platform. Launched last year, TikTok Shop UK was the ByteDance company’s first such effort outside of Asia, where it is available in countries including Vietnam, Singapore and the Philippines. Continue reading TikTok May Team Up with TalkShopLive for a Holiday Launch

Walmart has planted its flag in the metaverse, launching Walmart Land and Walmart’s Universe of Play on Roblox, a virtual worlds game platform that emphasizes user-generated content. Roblox community members can check out the Walmart “isles” to collect “verch,” or virtual merchandise, “catch top music artists and unlock exclusive interactive content,” the company says. “Roblox is one of the fastest growing and largest platforms in the metaverse, and we know our customers are spending loads of time there,” Walmart CMO William White said, citing the platform’s 52 million daily active users. Continue reading Walmart Begins Metaverse Build-Out on the Roblox Platform

California attorney general Rob Bonta has filed an antitrust lawsuit against Amazon, claiming the e-tailer has managed to bend competition and pricing to its will. Only about 25 million of Amazon’s 147 million U.S. customers are domiciled in California, but if the measure succeeds it could impact regulations across the country and across the globe. “For years, California consumers have paid more for their online purchases because of Amazon’s anticompetitive contracting practices,” Bonta said Wednesday. “Amazon’s market dominance, allowing the company to make increasingly untenable demands on its merchants,” resulted in “higher prices and more control.” Continue reading California Attorney General Files Antitrust Suit Against Amazon

Meta Platforms is expanding its Meta Advantage advertising automation program, an effort to mitigate fallout from Apple’s consumer privacy measures, which have substantially constrained its ability to target and personalize ads. Launched in March, Meta Advantage bundles AI and ad automation tools to simplify the process for advertisers. This week the company added Advantage+ Shopping, assisting in campaign creation, simultaneously offering up to 150 automated creative combinations. The update offers more options to e-commerce brands and is geared toward optimizing the presence of Facebook or Instagram storefronts. Continue reading Meta Expands Advantage Program with AI-Powered Ad Tools

The nation’s largest publisher, Penguin Random House, was in federal court this week to defend itself against the Justice Department, which filed an antitrust lawsuit to block its acquisition of Simon & Schuster. The DOJ has been increasingly focused on antitrust and is hiring more trial lawyers in preparation for an action against Alphabet’s Google for its dominance in search and digital advertising. Although ostensibly on trial for threatening to shrink the number of American mass-market publishers from five to four, the Penguin suit also involves examination of the retail power of Amazon. Continue reading How the DOJ Antitrust Publishing Lawsuit Relates to Amazon

Amazon increased revenue by 7 percent to $121.2 billion in the second quarter, beating analyst expectations and sending the stock soaring 12 percent despite a $2 billion loss. That contrasts with a $7.8 billion profit for the same period last year. The loss was due in part to Amazon’s investment in the electric car company Rivian, whose value has plunged this year. “Despite continued inflationary pressures in fuel, energy, and transportation costs, we’re making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network,” said Amazon CEO Andy Jassy. Continue reading Amazon Reports Online Sales Are Down While Revenue Is Up

In the wake of the European Union’s strict new digital-competition laws, Amazon has proposed settlements in two EU antitrust cases. The U.S.-based e-commerce giant says it will stop using non-public data it obtains from the activities of independent sellers on its marketplace to inform its own business decisions in competition with those sellers. A separate investigation found Amazon to be self-dealing with regard to its Buy Box and Prime plans, resulting in a commitment to give third-party sellers equal treatment. The commitments would remain in force for five years, monitored by a trustee reporting to the European Commission. Continue reading Amazon Offers Concessions to Call Off EU’s Antitrust Probes

The graphics processor unit drought may be over as retailers report inventory is plentiful with prices returning to pre-scarcity norms. Nvidia GeForce RTX 3090 Ti’s that were marked up to nearly double the MSRP on sites like eBay are now available for approximately their intended $2,300 price. “GPU prices continue to drop on a monthly basis,” reports Tom’s Hardware, attributing the favorable conditions in part to the cryptocurrency crash, which has “resulted in more mining firms shutting down,” selling off hardware and not competing for new units. The easing of COVID-19 supply chain bottlenecks is another mitigating factor. Continue reading Replenished GPU Inventory Results in Return to MSRP Pricing

The National Labor Relations Board announced over the weekend that 65 Apple employees at a Towson, Maryland store (near Baltimore) have voted to unionize (33 voted against). The Apple CORE (Coalition of Organized Retail Employees) will become part of the International Association of Machinists and Aerospace Workers (IAM). The decision follows a growing labor trend across restaurant, retail and tech industries, while marking a first for Apple’s more than 270 U.S. retail locations. The Towson facility is the third Apple Store to conduct a union drive this year, but the first to hold an official vote. Continue reading In First for Apple, Maryland Store Employees Vote to Unionize