Holiday Season spending to hit record high, Amazon, Walmart, EBay gear up

Amazon, EBay, Walmart heat up the race

Merry Christmas

According to Adobe Analytics' annual calculations, U.S. online spending is expected to hit a record high this year during the holiday season. Online sales are expected to get a boost particularly on major shopping days such as Black Friday and Cyber Monday.

Per the report, online shoppers are expected to spend $143.7 billion in November and December, a rise of 14% compared with last year's holiday season spending, which registered sales of $126 billion. This certainly is a good sign for retailers, who have been facing the heat of President Donald Trump's tariffs.

The holiday season is one of the most important periods for retailers. Much like every year, all major retailers like Amazon, Walmart, EBay, Target Corporation and Kroger have already started luring customers with attractive deals ahead of the holiday season. From TV, espresso machines to tablets to headphones, all e-ecommerce giants are coming up with lucrative deals this holiday season. This has also seen retailers like Best Buy and Kroger going on a hiring spree to add muscle to their delivery arm ahead of the all-important holiday season.

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Employees prepare a display ahead of Black Friday sales at a Walmart store in Chicago, Illinois, U.S. November 23, 2016. Reuters

According to Adobe, major online retailers get a 65% boost in sales during the holiday shopping season. The sales growth is expected despite a shortened holiday shopping period of six days this year, with only 22 days between Cyber Monday and Christmas. Despite giving a weak forecast for revenues in the fourth quarter, Amazon's Chief Executive Officer Jeff Bezon during its third quarter earnings call had said that the company the company's 25th holiday season will be the best for Amazon Prime customers.

The e-commerce giant will also be giving free-one day delivery during the holiday season to all its Amazon Prime customers in the U.S. Much like Amazon, Wallmart too announced its holiday season sales open last weekend. This is in a move to make up for the shortened holiday period this time around.

Black Friday sales are predicted to grow 20% to $7.5 billion, while Cyber Monday is expected to witness sales of $9.4 billion, a rise of 19%. This year's Black Friday is on November 29. However, to make the most of the opportunity, EBay is expected to introduce deals starting Wednesday that is on November 27. Moreover, the company also said that nearly every deal that finds a place in the eBay Black Friday ad, will be shipped free of charge.

Related topics : Amazon prime