CompaniesBIO

Consumers took advantage of heavy discounting by online retailers to start up the holiday shopping season in high gear. According to Adobe Analytics, record online spending on Thanksgiving and Black Friday drove Cyber Week — Thanksgiving through Cyber Monday — to $35 billion in total sales, itself a record and up 4% from last year. The numbers were driven by discounts across categories, with peak deals of 34% off the prices of toys, 25% off electronics like computers and TVs and 18% off apparel. “With oversupply and a softening consumer spending environment, retailers made the right call this season to drive demand through heavy discounting,” Vivek Pandya, a lead analyst at Adobe Digital Insights, said in a statement. “It spurred online spending to levels that were higher than expected, and reinforced e-commerce as a major channel to drive volume and capture consumer interest.”  Top-selling toys included Pokémon cards, Legos, Hot Wheels, Disney's “Encanto”-branded merchandise...

Artistgndphotography | E+ | Getty Images Televisions are among just a handful of consumer goods and services that have dropped in price in the last year — which may translate to steep discounts for shoppers on Black Friday and Cyber Monday. What's more, 38% of shoppers say they'll likely buy a TV during Thanksgiving week, including Cyber Monday, according to a recent Consumer Technology Association survey. related investing news The ultimate Thanksgiving portfolio with costs on the rise Jesse Pound 2 hours ago Despite a challenging holiday period, KeyBanc sees a few retail stock winners Samantha Subin 6 hours ago "Those lucky enough to be in the market for a TV are going to find some excellent deals right now," said Rick Kowalski, director of industry analysis and business intelligence at the association. Why TV prices are falling amid broader inflation Average TV prices fell by almost 17% in October 2022 compared with the same month in 2021, according to the consu...