U.S. Retail Sales Expected to Surge 5% – Reaching $75 Billion in This Festive Season

$75B

A new Bain & Company report stated that U.S. retail sales from Black Friday to Cyber Monday are projected to increase 5% to $75 billion, this is the highest rise when compared to the previous years. Despite Cyber Monday losing relevance since 2019, the Black Friday to Cyber Monday window remains crucial, capturing a record share of holiday sales. Retailers that optimize their promotions and inventory are likely to benefit this season.

40%

The 2024 holiday season is set to be unique, with factors like inflation and a shorter shopping window between Thanksgiving and Christmas. Deloitte predicts holiday sales will return to pre-pandemic levels, with 40% Gen Z and Millennials planning to spend more. To stand out, retailers should launch early campaigns, offer flexible payment options like BNPL, and provide multiple BNPL platforms to cater to diverse consumer preferences.

15%

In this October, Apple plans to launch its first AI features and cut iPhone 16 production by 3 million units, a 15% YOY drop according to a Barclays report. The shift to generative AI delays product updates, signaling that integrating AI features may take longer than Apple’s usual yearly cycle.

3

Due to the demand of creators, YouTube has extended its shorts video limit from 1 to 3 minutes, following TikTok and Instagram’s lead in offering longer content for creators. By 2028, nearly 60% of the U.S. population is expected to watch YouTube Shorts monthly. This move enhances YouTube's competitiveness in the short-form video space while giving creators more flexibility.

$6.3 T

Mc Kinsey’s survey reveals that many brands are likely to invest over $100 million in e-commerce technology and also plan to hire new tech talent to capture large sales this holiday season. The survey also stated that the majority of global sales will be made online by 2025 and $6.3 trillion e-commerce sales are predicted to be made in retail alone. Nearly 69% plan to boost e-commerce spending for Black Friday, with 40% relying on holiday events for a significant share of annual revenue.

4%

According to the U.S. Census Bureau, for the first time, since the pandemic, US household income surged to 4% from 2022 to 2023. The rise in household income is due to a strong job market and ease of inflation. Median household income reached $80,610, nearly returning to pre-pandemic levels.

100,000

Super Micro has seen huge profits after the company announced shipping over 100,000 AI-focused GPUs per quarter, potentially worth billions. As a key player in the AI boom, Super Micro also unveiled a new cooling product for data centers. Despite this, the company is nine weeks behind on its annual report and is under investigation for alleged accounting issues.