Record-breaking Black Friday and Cyber Monday Sales
Amazon sellers know that Thanksgiving through Cyber Monday is the period of time in which people spend the most money in search of the best deals. This year, consumers spent $3.39 billion online on Cyber Monday, according to Adobe Data Insights who keep track of spending. Cyber Monday 2016 was the most successful day in the history of online sales. Amazon is the website that most Internet shoppers flock to when looking for a deal. Amazon has made it simple for customers to get anything they need from gifts to groceries delivered to their doorsteps in just a couple of days. Amazon Prime members receive free two day shipping and special pricing. These customers have a tendency to be very loyal to Amazon and will generally check this site before going to any other websites.
The holiday shopping season is when many retailers first begin to make a profit for the year. The phrase Black Friday was given because it is the first day of the year that the majority of retailers get out of the red and into the black; black meaning making a profit in business terms. Many of those who sell their goods and services on Amazon rely on holiday sales to not only bring in a profit, but also to grow their consumer base and increase their name recognition. This is crucial for businesses that are just starting out. A successful holiday sales season can lead to an increase in loyal customers and further success throughout the rest of the year.
If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation.