Why is UPS volume down?

UPS attributed much of the decline in revenue and profit to lower package volume and impacts of labor negotiations. It reached an agreement with the Teamsters union in July to renew a five year contract and stave off a strike. The agreement was fully ratified in August.

Average daily volume declined 11.5% in the quarter, which was slightly offset by a 2% increase in revenue per piece. August was the most difficult month by volume levels, with some clients waiting until the union contract was ratified to start using UPS again.

In the last week of September, daily volume was down just 7.4% year over year, an improvement from the rest of the quarter, says Carol Tome, CEO, in a press release.

“While unfavorable macro-economic conditions negatively impacted global demand in the quarter, our U.S. labor contract was fully ratified … and volume that diverted during our labor negotiations is starting to return to our network,” Tome told investors in an earnings call. 

Ecommerce and Happy Returns acquisition

Ecommerce returns have been a “key area of growth” for UPS over the last several years, Tome said. It has grown 25% since 2020.

That was the impetus behind UPS acquiring reverse logistics company Happy Returns. Happy Returns will “generate profitable B2B volume, and help drive pickup and delivery density,” Tome said in the call.

UPS holiday shipping outlook

UPS is preparing for its busiest part of the year, the fourth quarter holiday season. It plans to hire 100,000 seasonal workers to process and deliver packages during the peak season.

Despite slowing demand, UPS expects to see “healthy” volumes during peak season. But there are headwinds, the retailer warns. Consumers are returning to stores and not doing as much of their shopping online, or spending more on experiences, which is also hurting UPS package volume, Tome said. 

UPS adjusted its 2023 outlook to expect consolidated revenue for the year to reach $91.3 billion to $92.3 billion. That’s down slightly from the anticipated $93 billion UPS gave in Q2.

UPS quarterly earnings

For the fiscal third quarter ended Sept. 30, 2023, UPS reported:

• Consolidated revenue declined 12.8% to $21.1 billion.

• Consolidated operating profit declined 48.7% to $1.3 billion.

• UPS average daily package volume declined 11.5%.

For the nine months ended Sept. 30, 2023, UPS reported:

• Total revenue declined 9.9% to $66.0 billion.

• Total operating profit decreased 29.4% to $7.1 billion.

Percentage changes may not align exactly with dollar figures due to rounding.

Check back for more earnings reports.

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U.S. consumers will spend more than $12 billion on Halloween celebrations this year, according to The National Retail Federation. About one-third of Halloween spending will be through ecommerce, NRF says. Retailers shared these tips for making the most of the holiday.

1. Build anticipation for new products before they launch.

“We teased the drop of our Halloween collection before it went online, and they create engaging content that gives Halloween fans a behind the scenes look at our collection,” says Lance Allen, senior merchant of decorative Holiday at Home Depot.

2. Introduce new products, but keep classics around.

Home Depot’s 12-foot-tall “Skelly” has been a viral success since 2020. The retailer still sells the skeleton, and it has since introduced other giant decor items to build on its success.

3. Use TikTok and other video platforms to display new merchandise.

“One of the biggest changes we’ve made this year is with short-form video. We are producing and deploying more video than we ever have in the past,” chief marketing officer at Fun.com Mark Bietz says. “It’s been amazing to see how customers have responded to having more rich experiences with our brand.”

4. Experiment with new advertising avenues.

Lingerie brand Adore Me is seeing success with digital out-of-home advertising on subways and billboards, with plans to continue investing, says vice president of strategy Ranjan Roy. Meanwhile, Fun.com says connected TV ads are driving “excellent results.”

5. Give consumers as many fulfillment options as possible.

Walmart offers late-night express delivery and pickup options ready in between 30 and 90 minutes. Walgreens has 30-minute pickup, one-hour delivery, and 24-hour delivery, a spokesperson says.

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Summary of the top early pizza oven deals for Black Friday, featuring all the best savings on portable, outdoor, wood fired, freestanding, 2-in-1 & more pizza ovens

BOSTON–Find the top early pizza oven deals for Black Friday 2023, including Cuisinart, Ooni and more pizza oven offers from highly rated brands. Access the latest deals using the links below.

Best Pizza Oven Deals:

• Save up to $100 on Ooni pizza ovens (Ooni.com)
• Save 25% on the Ooni Karu pizza oven (Ooni.com)
• Save up to 58% on pizza ovens from Cuisinart and more top brands (Walmart.com)

The Consumer Post earns commissions from purchases made using the links provided.

Pizza ovens, primarily crafted from refractory materials, are engineered to reach and sustain high temperatures, ensuring the rapid and even cooking of pizzas. Whether powered by wood, gas, or electricity, they provide a broad spectrum of choices for both home and professional chefs, accommodating diverse culinary preferences. The outcome is consistently a culinary masterpiece, characterized by a delicate balance of crispy yet tender crusts and impeccably melted toppings, securing their enduring popularity among global gourmets.

Black Friday, scheduled for November 24, 2023, is set to once again enthrall consumers with its irresistible discounts and promotional offerings. As a quintessential kickoff to the holiday shopping season, this day sees retailers nationwide extending extraordinary deals on a broad spectrum of products, ranging from electronics to clothing. With extended store hours and online shopping options, Black Friday presents an ideal opportunity for shoppers to accomplish their holiday gift purchases and access significant financial advantages.

About The Consumer Post: The Consumer Post shares news for online shoppers. As an affiliate The Consumer Post earns from qualifying purchases.

Contact: Andy Mathews (andy@nicelynetwork.com)

Source: The Consumer Post

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Save on a wide range of LG C3 OLED TV deals at the early Black Friday sale, together with the top 4K UHD smart TV savings

BOSTON–Compare the best early LG C3 OLED TV deals for Black Friday 2023, together with sales on 65-inch, 55-inch, 48-inch, 77-inch, 42-inch & 83-inch LG OLED TVs (C3, C2, G2 & more). Links to the latest deals are listed below.

Best LG OLED C3 TV Deals:

• Save up to 35% on LG C3 OLED TVs (83”, 77”, 65”, 55” 48”, 42”) (Walmart.com)
• Save up to $1,000 on LG OLED C3 TVs (LG.com)

The Consumer Post earns commissions from purchases made using the links provided.

The LG C3 OLED TV is a premium home entertainment device renowned for its cutting-edge display technology. This television features a self-emissive OLED panel, delivering impeccable contrast and vibrant colors for a captivating viewing experience. With a resolution of up to 4K, the LG C3 ensures sharp, detailed images across a variety of content. Furthermore, its sleek design and minimalist bezels complement any living space. Equipped with advanced processing capabilities, this television offers seamless access to a wide range of streaming services and smart home integration.

Black Friday 2023 is scheduled to occur on November 24, marking one of the most anticipated shopping events of the year. This annual event, known for its significant discounts and promotions, serves as an opportunity for consumers to find substantial savings on a wide range of products, from electronics to fashion and beyond. Retailers across the nation prepare for this shopping extravaganza, offering limited-time offers to entice eager shoppers. With the holiday season just around the corner, Black Friday presents an ideal occasion for individuals to kickstart their gift shopping or take advantage of exceptional bargains.

About The Consumer Post: The Consumer Post shares news for online shoppers. As an affiliate The Consumer Post earns from qualifying purchases.

Contact: Andy Mathews (andy@nicelynetwork.com)

Source: The Consumer Post

The post Black Friday LG C3 OLED TV Deals 2023: Early 42, 48, 55, 65 & 75 Inch LG C3 OLED TV Sales Researched by The Consumer Post appeared first on Digital Commerce 360.

On Oct. 25 and 26, Wayfair will stage its second Way Day of the year. It will feature deals on more than 1 million items for the home, up to 80% discounts on top-selling items and a sweepstakes with a chance to win a $50,000 home makeover.

Wayfair is No. 10 in the Digital Commerce 360 Top 1000. The database ranks North America’s largest online retailers by web sales.

Wayfair holiday shopping push

The push for early holiday shopping comes at a time when Wayfair could use a boost to its 2023 financial performance. Wayfair won’t break out third quarter revenue until Nov. 1, but for the first six months of the year, the online home décor and furniture retailer reported revenue of $9.45 billion, a 5.3% drop from sales of $6.277 billion in the first two quarters of 2022. Net loss was $401 million compared with a net loss of $697 million in the prior year.

With early holiday shopping days and deals, Wayfair is using a mix of steep discounts, sweepstakes, mobile commerce, and artificial intelligence to spur web shoppers to buy. Specific initiatives include:

• Customers who shop starting today through the end of Way Day will be entered in the Way Day Home Makeover Sweeps for a chance to win $50,000 toward a home makeover with Wayfair’s design services.
• Beginning Oct. 23, Wayfair will feature an additional 20% off eligible products, exclusively on its app.
• Way Day items will be available in Decorify, Wayfair’s generative AI-powered virtual room styler. Decorify uses an AI model that creates realistic images from another image. By simply uploading photos of their spaces to Decorify, customers can see product recommendations from the sale in the room style of their choice.

“We’re excited to kick off an extended season of deals with our second Way Day of the year,” says Wayfair chief commercial officer Jon Blotner.

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September nonstore sales — which are mostly online but also include sales through call centers, catalogs, vending machines and door to door — increased by 6.2% versus 2.8% for all other retail sales. For the third quarter, nonstore sales rose by 8.2% versus 3.0% for other retail sales, and comparable figures for the first nine months of the year were 7.9% and 4.2%, respectively.

That’s based on a Digital Commerce 360 analysis of Commerce Department data that excludes sales of motor vehicles, vehicle parts and gasoline. The Commerce Department data is not adjusted for inflation. In September, consumers prices were 3.7% higher than they were 12 months earlier, according to the Commerce Department.

September online retail sales increase

Nonstore sales, which are reported monthly along with total retail sales, have been a good predictor of online sales in 2023. For the first six months of 2023, nonstore sales increased 7.7% and online retail sales, which the Commerce Department reports quarterly, grew by almost exactly the same percentage. The Commerce Department will report online retail sales for the third quarter Nov. 17.

2023 Top 1000 Report

Analysis of North America’s leading 1,000 online retailers. Includes over 200 charts, rankings by 2022 web sales, benchmarking data, growth analyses by category and merchant type, and a detailed analysis of post-pandemic ecommerce. 

View Details

The faster growth in nonstore versus in-store sales suggests that consumers continue to steadily shift their purchasing to the web from brick-and-mortar stores. And market research firm Insider Intelligence projects that will remain the case during the 2023 holiday season.

Monthly online retail sales projection

In a report released this week, Insider Intelligence predicts retail ecommerce sales will increase by 11.3% in November and December of this year, the heart of the holiday season, versus 3.0% for in-store sales. Total retail spending will grow 4.5% during the holiday period this year, up from 3.9% last year, Insider Intelligence says.

But some observers believe troubling news at home and abroad will lead consumers to spend more cautiously this holiday season.

“CEO and consumer confidence is declining in real time, and the macro global chaos is not going to help,” says Eric Roth, managing director, consumer at private equity firm MidOcean Partners who has followed ecommerce firms for years. “Holiday feels like it will be muted and perhaps a decline from 2022.”

While overall retail sales may be impacted by developments like the war in the Middle East, the trend has been for holiday shopping to shift to the web. Online retail sales have steadily grown faster than in-store sales during the holidays every year in the past decade, with the exception of 2021. In that case, the year-over-year comparison was with 2020, when the COVID-19 pandemic kept many shoppers out of stores and resulted in a 39.0% spike in ecommerce sales during the holidays, according to Insider Intelligence. Stores sales bounced back in late 2021 once many consumers had been vaccinated.

But in general, the pandemic accelerated the shift to online shopping. In 2022, online retail captured 20.9% of total U.S. retail sales, versus 15.4% in 2019, the last year before the COVID-19 pandemic struck the U.S., according to Digital Commerce 360. That estimate excluded goods rarely purchased online, including motor vehicles, gasoline, fuel oil and spending at restaurants and bars.

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“Big Deal Days was Amazon’s most successful fall sale to date,” analyst at market research firm Numerator Amanda Schoenbauer says.

Amazon says Prime Members bought hundreds of millions of items in its sale on Oct. 10 and 11. More than 150 million of those purchases were from third-party sellers, which make up the majority of GMV on Amazon’s marketplace.

Amazon ranks No. 1 in the Top 1000, Digital Commerce 360’s ranking of North America’s online retailers by web sales. Amazon is No. 3 in the Global Online Marketplaces Database, Digital Commerce 360’s ranking of the top 100 online marketplaces.

The second annual fall sales event was “a strong start to the holiday shopping season,” CEO of Worldwide Amazon Stores Doug Herrington said in a written statement. Prime Members ordered more than 25 million items for same-day and next-day delivery, he said in the statement.

Most popular Amazon Big Deal Days products

Amazon says apparel, beauty, home and toys were the best-selling categories during the sales event. That lines up with results from market research firm Numerator, based on analysis of more than 70,000 orders and 137,000 products from 31,000 buyers. Numerator found apparel and accessories to be the most popular category, followed by home goods and home essentials. 

As usual, Amazon-brand products were highly popular during the sale. Prime members bought millions of Alexa-enabled devices, with Fire TVs and Echos being the most popular, Amazon said. 

Apple AirPods Pro (2nd Generation), Bissell Little Green Multi-Purpose Portable Carpet & Upholstery Cleaner, and Crest 3D Whitestrips rounded out the other top sellers, according to Amazon.

Numerator listed the top five Big Deal Days sellers as:

1. Premier Protein Shakes
2. Amazon Basics Batteries
3. Amazon Fire TV stick
4. Liquid I.V. Hydration Packs
5. Energizer AA Batteries

The top-selling products were similar to customer favorites from the larger July Prime sale, including apparel and electronics.

How does Big Deal Days compare to other Amazon sales?

“While nearly as many households participated in this week’s sale as did July’s Prime Day, households spent less on average during the Big Deal Days sale, placing fewer orders and purchasing lower-priced items,” Numerator’s Schoenbauer says.

The average order size for the Big Deal Days sale was $53.47, according to Numerator. That’s down slightly from $58.67 for the July Prime Day sales event. The average household spent $124.09, compared with $181.72 in July.

“This was the largest holiday sale we’ve seen this early in the season, but only about a quarter of participants said they used it to purchase holiday items, and very few actually completed a significant amount of their holiday shopping,” Schoenbauer says, based on Numerator data.

82% of a panel of 100 retailers in the Top 1000 online retailers held a promotion on Oct. 10, the first day of Amazon’s sale. That’s an increase from 72% during the control period two weeks prior to the sale, and from the 75% of retailers that held competing events with the July Prime sale.

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In Digital Commerce 360’s panel of 100 online retailers from the 2023 Digital Commerce 360 Top 1000, where Amazon is No. 1, 82.0% offered promotions of some kind on Oct. 10, the first day of Amazon’s Big Deal Days. That’s up from 72.0% during a control period two weeks prior. That’s also above the 75.0% of retailers running competing promotions on Amazon Prime Day, the summer shopping holiday that’s now nearly a decade old.

This is only the second year for Amazon’s fall holiday event, though Amazon Prime Day was pushed back to this time period in 2020. Last year, during an “Early Access” promotion, the same panel wasn’t so eager to compete with Amazon for a whole new shopping holiday — while 80.0% offered promotions last year, discounts were smaller with the median retailer offering up to 40% off compared to 50% this year.

Amazon is also No. 3 in Digital Commerce 360’s Global Online Marketplaces Database. It ranks the 100 largest such marketplaces by 2023 third-party GMV.

Big competition on Big Deal Days

While retailers were likely to offer site-wide sales to compete with Big Deal Days, few were willing to play into Amazon’s naming scheme. Of those offering promotions, 14.6% nodded to Prime Big Deal Days. Designer Brands (No. 77) promoted “40% off big-deal brands” on the DSW site, while Kohl’s Corp. (No. 23) called its sale the Deal Dash.

DSW.com offered discounts on “big-deal brands” in a playful reference to the manufactured shopping holiday.

Walmart, which sat out both Prime Days and Early Access Days in 2022, returned to compete during Prime Days this year. The mass merchant heavily promoted during Big Deal Days as well. A popup appeared on its homepage promoting the membership program Walmart+, along with plenty of nods to the savings it grants. The difference was that most of Walmart’s deals weren’t locked behind its paid membership, in contrast with Amazon.

Target ran deals during the week prior to Amazon’s shopping holiday. Circle Week matched its Prime Days strategy, but offsetting its sale was a new twist. Walmart attempted a sale before Prime Days last year but didn’t garner any similar sales from other retailers. Similarly, it doesn’t seem many retailers offered off-peak sales and instead hoped to ride in Amazon’s wake to capture consumers in the spending mindset.

The new start of the holiday season?

While Amazon ditched the idea that this shopping holiday is explicitly for early holiday shopping, many retailers used the manufactured holiday to kick off their Christmastime sales. 18.9% of retailers offering promotions tied it to Christmas, Black Friday or the holidays more generally. That’s up from 3.2% two weeks ago mentioning winter events. Despite Halloween right around the corner, just 5.4% of promotional retailers mentioned the spookiest holiday on their homepages.

Percentage off discounts reigned supreme, as they usually do, with 64.9% of promotional retailers offering a discount of a certain percent. 27.0% offered dollar-based discounts, while 14.9% offered free shipping promotions. Nearly half of promotional retailers offered more than one type of promotion on the homepage.

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Amazon ranks No. 1 in the Top 1000, Digital Commerce 360’s ranking of the largest North American online retailers. Amazon is also No. 3 in Digital Commerce 360’s Global Online Marketplaces Database. It ranks the 100 largest such marketplaces by 2023 third-party GMV.

October sales can cannibalize holiday spending

Big Deal Days pull forward some consumer spending that would otherwise have waited until later in the season, says Neil Saunders, managing director at retail analysis firm Global Data. Some consumers also hold off on purchases and wait for the sale, he said.

45% of consumers said they bought products they’d been waiting to purchase on sale in a survey of 917 Amazon shoppers from consumer market research firm Numerator.

Because consumers plan other seasonal shopping with this sales event in mind, “it doesn’t necessarily increase sales enormously,” Saunders says. “I think because you’re offering discounts, you can get people to buy a little bit more on impulse. Perhaps they divert spending from other areas like travel, entertainment or eating out,” he says.

Many of the purchases made during the sale would still have happened without the sale, just at a later date.

Not all Big Deal Days shoppers plan to make purchases during the major shopping holidays coming up. 58% said they plan to shop on Black Friday, and 57% said they will shop on Cyber Monday, according to Numerator’s survey.

28% of consumers said they purchased holiday gifts during the sale, flat with the percentage from 2022’s Early Access sale. In both 2023 and 2022, 30% of shoppers told Numerator they completed at least half of their holiday shopping during the October sale.

Holiday spending starts earlier

Holiday spending was already moving up earlier in the year, and Amazon’s addition of a second Prime Day solidified the trend. 38% of shoppers planned to start holiday shopping as early as September in 2023, a 25% increase from 2022, according a study from shopping app LTK. LTK conducted the holiday survey on June 30, 2023, with 1,136 of consumers identified as Gen Z and Millennials. 

Sales and holiday-themed marketing events, such as Big Deal Days, push consumers to start shopping earlier in the season, says Kasi Socha, analyst at retail data research company Gartner. Consumers are trending toward shopping for holidays all year long, she says, and Gartner predicts 30% of consumers will shop for winter holiday gifts year-round by 2026.

“I do think that these earlier offers have made the holiday season a bit more complex in terms of shopping because it does put a dilemma on consumers as to whether to buy now, or to try and wait until later in the hope that the discounts might be deeper,” Saunders says.

Consumers are also more selective on spending discretionary income thanks to inflation and price increases, so they’re not necessarily jumping on any type of discount. Spreading out holiday purchases over a longer period can make them fit into a budget more easily.

“They have particular things that they want to buy; they have particular price points,” Saunders says.

Consumers are looking for sales on products that they’re already planning to buy in the holiday season. 60% of items purchased through Amazon sold for under $20 as of 1 p.m. ET, according to Numerator. Just 4% of purchases were more than $100.

Competing retailers like Walmart might not see huge gains from early holiday spending

Amazon’s competitors historically hold competing events with the retail giant’s prime sales. Walmart, for example, held its Holiday Kickoff sale during the same time period as Big Deal Days, and did not limit it just to Walmart+ members. In July, the first Walmart+ Week coincided with Amazon Prime Day in July. Both retailers held online sales across different categories of merchandise. Target held a comparable Circle Week the first week of October, and Costco held Member Savings Days. 

“While there may be a little bit of loss of market share from other retailers to Amazon, I feel that the big guys like Walmart and Target can certainly hold their own in this, and they’re pulling out the stops to take share from others in the market,” Saunders says.

Some retailers may see incremental gains in market share, but there are unlikely to be large changes, he added.

One-third of Amazon shoppers said they also plan to shop Walmart’s sale, and 27% said they’d made purchases during Target Circle Week, according to Numerator’s survey.

For Amazon, though, sales so far are well ahead of last October’s Prime Early Access Sale, Numerator analyst Amanda Schoenbauer says.

“Even if the event doesn’t top Prime Day highs, it still appears to be a highly lucrative sale for Amazon that we expect to see again in the future,” she says.

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Amazon is betting that Prime members will spend heavily on deeply discounted items. It looks to lure web shoppers in with deals that range from seasonal decor starting as low as $6 to invitation-only deals like 60% off 50-inch smart TVs and savings on brand names such as up to 50% off Sony products and 30% off Lego items.

But exactly what Prime members are looking to purchase and how much they will spend will vary widely by age, income, and other factors, says new research from market research company Numerator and industry survey.

Amazon is No. 1 in the Top 1000, Digital Commerce 360’s ranking of the largest North American online retailers. Amazon is also No. 3 in Digital Commerce 360’s Global Online Marketplaces Database. It ranks the 100 largest such marketplaces by 2023 third-party GMV.

Amazon Big Deal Days closely precede holiday sales period

Nearly one-third of all consumers are expected to shop online during Amazon Prime Big Deal Days. While those won’t be as big as the 37% of consumers that shopped and bought this summer during Amazon Prime days, Prime Deal Days will “bring a significant boost to ecommerce sales in general, “with the first day of the sale potentially surpassing Cyber Monday in online shopping,” Numerator says.

Other research firms also suggest that while Amazon Prime Big Deal Days will generate big business for Amazon and other big chain retailers this week, many budget-conscious shoppers will choose to shop later and closer to online retailing’s biggest days: Black Friday and Cyber Monday.

Nearly half (44%) of consumers who plan on shopping during the 2023 winter holiday season say they plan to do so during a preseason sales event like Amazon Prime Big Deal Days, says research firm Mintel.

Shoppers remain budget-conscious

But Black Friday and Cyber Monday remain popular (45%) as consumers’ budget-focused mindset continues, says Mintel.

“Over a quarter (28%) of winter holiday shoppers agree that it is even more critical to shop on Black Friday or Cyber Monday because of inflation/rising prices,” Mintel says. “When asked how inflation impacts their spending, 42% of winter holiday shoppers say they purchase fewer gifts, while a quarter (24%) say they switch to lower-priced retailers.”

Even with Amazon and other retailers pushing big deals and deep discounts this week, consumers may remain more budget-minded than in earlier years, Mintel says. Three in five (59%) consumers who plan to do winter holiday shopping in 2023 say they want to spend the least amount of money possible, says Mintel.

“Consumers will participate more in preseason shopping sales, such as Amazon Prime Day, to take advantage of the deals and discounts,” says Mintel retail and ecommerce analyst Brittany Steiger. “They remain value-conscious and look to spend as little as possible.”

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