Shares of American retailers are reacting differently to their collective record $44.2 billion in online sales posted during the five-day Thanksgiving-to-Cyber Monday stretch.
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According to Adobe Analytics, U.S. consumers’ spending spree to snap up heavily discounted products saw sales during the five days — popularly referred to as Cyber Week — rise by 7.7% from $41.1 billion seen a year ago.
However, as of 1:12 p.m. on Tuesday, Target’s (TGT) and Gap’s (GAP) shares fell by about 2%. On the other hand, Amazon’s (AMZN) shares rose marginally by less than 1%, while Walmart’s shares (WMT) were nearly flat.
U.S. Retailers See Record Holiday Online Sales
Excluding Cyber Monday, data from the marketing analytics platform also show that shoppers spent $30 billion in online purchases between Thanksgiving Day on Thursday and Sunday evening — 10% higher compared to last year. The five-day spending spree got off to a strong start, as spending on Thursday alone outpaced last year’s by 9.1%.
AI Agents Take on More Active Role
Similarly, online spending on Black Friday climbed by 9.1% to a record $11.8 billion, with AI agents helping to guide about $3 billion of the sales in the U.S. According to Adobe Analytics, traffic handled by these agents — such as Amazon’s Rufus and Walmart’s Sparky — rose 805% from a year ago.
Shopify Defies Downtime
Shoppers ignored the global “Make Amazon Pay” protests to lap up discounts by the retail giant. Canada-based e-commerce site Shopify (SHOP) — which generates more than half of its sales volume in the U.S. — hit record sales of $14.6 billion, shaking off a major downtime that rattled its platform during the period.
What Are the Best Retail Stocks to Buy?
Using the TipRanks Stock Comparison tool, investors can assess how the retail stocks mentioned above compare based on Wall Street’s analysts’ latest ratings. Kindly refer to the image below.
