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Thanksgiving and Black Friday have passed with minimal reported incidents across the country. The holiday shopping excitement continues with Cyber Monday still ahead. Retailers in the United States are optimistic about their sales prospects.
Despite challenges with supply chain disruptions and concerns over the Omicron variant of the coronavirus, the holiday shopping season appears to be robust. The National Retail Federation predicts approximately 158.3 million in-person shoppers on Black Friday and at least 62.8 million online shoppers on Cyber Monday.
“We anticipate another groundbreaking holiday season this year with Thanksgiving weekend playing a crucial role as always,” stated NRF President and CEO Matthew Shay in November.
Retail stocks recover on Cyber Monday optimism https://t.co/ThaVEndjxl
— TheStreet (@TheStreet) November 29, 2021
Interestingly, the supply chain challenges might have paradoxically boosted sales. Many customers flocked to physical stores on Black Friday and even earlier to secure holiday purchases before items ran out, a trend that seems to be continuing in online sales.
“Black Friday has evolved from a single-day event years ago, with some shoppers this year beginning their Christmas shopping as early as Halloween,” noted Shay.
While sales remain strong, some stores are experiencing inventory shortages. According to a CNBC report, the number of out-of-stock messages on various retail websites has increased by 124% compared to last year’s holiday season. Sales and foot traffic are still below pre-pandemic levels but have shown improvement from the limited in-person shopping experiences of 2020.
