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Amazon shares jump on predictions for record Cyber Monday

Tuesday, November 28, 2017 - 01:38

Amazon and other retailers took Wall Street to new highs on Cyber Monday on an expected surge in online sales. Fred Katayama reports.

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Amazon cranked up its manpower for this Cyber Monday. Jacob Bushner, a manager at the company's fulfillment center in New Jersey, says it's just like getting ready for the Super Bowl. (SOUNDBITE) JACOB BUSHNER, MANAGER, AMAZON FULFILLMENT CENTER, (ENGLISH) SAYING: "We're growing. That's the beauty of this. Every year, Amazon has been increasing with how Cyber Monday has been. Really different from this this year to last year is, we do have more associates here working with us, who are fulfilling more orders, and we're doing it smarter. So, as you can see, we have a lot of technology around us, where we actually have a chance to have associates and machines work together." Amazon and other retailers took Wall Street to new intraday highs on Cyber Monday on an expected surge in online sales. Adobe Analytics predicted a record $6.6 billion in sales. CFRA Research said Amazon will take the lion's share of that. Adobe also said mobile has represented more than 50 percent of all visits. CNET's editor in chief Lindsey Turrentine. (SOUNDBITE) LINDSEY TURRENTINE, EDITOR IN CHIEF, CNET (ENGLISH) SAYING: "Everybody is shopping on Cyber Monday. That's what's so interesting. Ninety percent of the people that we surveyed said that they were going to shop on Cyber Monday. Ninety five percent of Millennials said that they were going to shop on Cyber Monday. They are all looking. They're not all buying. Only something like 26 percent of those shoppers said that they were certain they were going to buy all of their gifts today." Adobe said, this Cyber Monday, shoppers could get the best deals on toys and computers. Competition was fierce: Reuters has learned that Wal-Mart is within striking distance of matching Amazon's online prices for the first time.

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Amazon shares jump on predictions for record Cyber Monday

Tuesday, November 28, 2017 - 01:38