US retailers are expecting slower Cyber Monday sales as fewer discounts and limited choices due to global supply chain disruptions are expected to deter shoppers.
Fewer discounts and limited choices due to global supply chain disruptions are expected to deter shoppersPeople walk by a shop during Black Friday sales in New York City, the US, November 26 2021. Picture: REUTERS/JEENAH MOON
Retailers had also spread out promotional deals across more weeks this year to protect profit margins from surging supply chain costs and to better manage inventories amid widespread product shortages ahead of the Christmas shopping season. US spending on Cyber Monday, which gained popularity in the mid-2000s as a way for online retailers to cash in on the jump in consumer spending around Thanksgiving, is expected to be between $10.2bn and $11.3bn , according to early estimates from Adobe.
“We’ve seen the lowest holiday discount rates in recent history,” said Rob Garf, general manager of retail at Salesforce, adding that discount rates in the US in the week leading up to Cyber Monday were on average 8% lower than they were last year.
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