1. Amazon exec says Omicron's impact on holiday spending is uncertain.
Amazon.com Inc's executive said it remains too early to predict how the Omicron coronavirus variant will impact consumer spending during the holiday season but suggested that shoppers will press ahead for now.
"It's very early in the process of understanding what's happening with the new variant," said Dave Clark, chief executive of Amazon's worldwide consumer business, during a Sunday morning interview on CBS' "Face the Nation."
Clark said he was "incredibly optimistic" about the ability of scientists and pharmaceutical companies that have developed effective vaccines to respond to the new variant while shoppers take stock of developments.
The Covid-19 pandemic has brought in an important change in consumer behavior from offline to online shopping, leading to increased activity in sectors like e-commerce and 3PL/logistics. This shift has paved the way for an emerging focus on new warehousing and logistics requirements, especially in urban settings.
Source from retail.economictimes
2. Indian warehousing stock likely to touch 360 million sq ft by 2024
Following this, the Indian warehouse stock is expected to reach over 380 million sq ft by 2024 after adding around 27 million sq ft in the first nine months until September end, bringing the total stock to 265 million sq. ft. in 2021, said JLL India.
The total stock of Grade A & B warehousing space in the top 8 cities increased at a compound annual growth rate (CAGR) of 16% from 2018 to 2021 September end.
Source from The Economic Times
3. Black Friday shopping in stores drops 28% from pre-pandemic levels as shoppers spread spending throughout the season
According to preliminary data from Sensormatic Solutions, traffic at retail stores on Black Friday dropped 28.3% compared with 2019 levels, as Americans shifted more of their spending online and kicked off their shopping earlier in the year.
Traffic was up 47.5% compared with year-ago levels, Sensormatic said. This time in 2020, many shoppers stayed home due to fears around the coronavirus pandemic and as retailers operated on somewhat reduced hours.
"It's clear that shoppers are shopping earlier this season, just as they did last season," said Brian Field, senior director of global retail consulting at Sensormatic. He added that the two main reasons shoppers are spreading out their holiday purchases are ongoing concerns about Covid and worries about the supply chain.
Source from CNBC
4. Best Buy's U.S. online sales dip 10.1% year over year in Q3
Compared with the pandemic-distorted year-ago results, Best Buy Co. Inc. (No. 5 in the 2021 Digital Commerce 360 Top 1000) reported lower U.S. online sales in Q3 of its fiscal year 2022. But overall revenue hit a record for the period. The retailer expects full-year comparable sales to be 10.5% to 11.5% higher than in F.Y. 2021.
Domestic online revenue for the quarter ended Oct. 30, 2021, was $3.44 billion, a year-over-year decrease of 10.1% on a comparable basis, compared with $3.82 billion a year earlier. Online revenue also decreased to approximately 31.3% of total domestic revenue, versus 35.2% a year earlier.
But compared with two years ago, online sales increased 145.7% in its fiscal Q3 2022, up from $1,40 billion. Last year, demand for eCommerce soared due to restrictions imposed because of the COVID-19 pandemic, and its online sales grew 173.7% in its fiscal Q3 compared with the previous year.
During a Nov. 23 earnings conference call, Best Buy CEO Corie Barry touted the growth in the number of same-day delivery orders, which grew 400% compared with a year earlier.
For same-day delivery, Best Buy employs delivery vendors such as Instacart and its employees to make deliveries from about 400 stores. Almost 60% of Best Buy customers live within 10 miles of a delivery location, Barry said.
Source from: digitalcommerce360
5. Extinction Rebellion targets Amazon U.K. hubs with blockades on Black Friday
Protestors from the Extinction Rebellion movement blockaded Amazon distribution centers across the U.K. on Friday as part of an effort to stop the e-commerce giant from shipping Black Friday orders.
Scores of activists from the Extinction Rebellion locked themselves to one another. They assembled structures outside Amazon's distribution sites, disrupting one of the busiest shopping days of the year.
It's unclear how many Amazon deliveries will now be delayed as a result of the protests.
Source from: CNBC