r Monday set new records with nearly $12 billion in US sales

Cyber Monday saw a 8% increase in US sales this year, compared to FY21. The global sales reached $46.2 billion, an increase of 2.4% YoY. Black Friday saw an additional 12% increase. The weekend’s total sales reached $68 billion. These figures do not include inflation. Inflation plays a significant role in increasing the price of goods.

Shopify has seen record sales. Shopify reported that 52 Million Shopify customers spent $7.5 Billion on Shopify merchants last year, an increase of 19 percent.

Harley Finkelstein, Shopify President, stated that consumers voted with their wallets on Black Friday and Cyber Monday when they shop with independent businesses. “The future is commerce on any surface,” Harley Finkelstein, Shopify President, stated.

The most popular item that was purchased was toys. These were the most sought-after toys this year:

Most expensive items. Average selling price for cyber week was up by 3%. The total amount spent on the most sought-after items in 2018 increased by almost 700%, which is not surprising.

Honorable mentions Other popular products included:

There are other factors that can impact your decision making. We also saw an increase of chatbots and inflation this year.

Dig deeper. The complete articles can be found at MediaPost here and there.

Why we care. Sales are not over yet. You might want to continue your ad campaigns and discounts if you are an advertiser or brand of ecommerce. This will allow you to take advantage of the rising trends.

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