Walmart and Amazon Report Record Holiday Sales, Outpacing Target and Best Buy

Strong Black Friday and Cyber Monday performances highlight Walmart and Amazon's dominance, while Target and Best Buy struggle to keep pace.

Walmart and Amazon achieved record-breaking sales during Black Friday and Cyber Monday, with Amazon reporting its highest-ever 12-day sales period and Walmart seeing its largest single sales day between November 25 and December 2.
Online spending in the U.S. reached $10.8 billion on Black Friday (up 10.2% year-over-year) and $13.3 billion on Cyber Monday (up 7.3%), with Amazon and Walmart benefiting from strong e-commerce growth.
Target and Best Buy experienced weaker performances, with Target showing only modest growth and Best Buy reporting year-over-year declines in Black Friday and Cyber Monday sales by 2% and 4%, respectively.
Walmart's growth was driven by its Marketplace platform, which saw a 43% increase in sales, and strong demand from higher-income households, while Amazon's success was bolstered by independent sellers, who accounted for over 60% of its holiday sales.
Emerging e-commerce platforms Temu and Shein also saw significant growth, with double-digit percentage increases in holiday sales, reflecting shifts in consumer preferences toward lower-cost online retailers.