Business

Monday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Monday’s business headlines.

Cyber Monday

Retailers are expecting a record-breaking Cyber Monday as more people lean toward virtual shopping this year amid the COVID-19 pandemic.

Anticipated sales of $10.8 billion to $12.7 billion are expected.

Hot Wheels, Hoverboards and Lego sets are expected to be big sellers, while Apple Airpods, Apple Watches and the Amazon Echo topped the list for electronics.

Black Friday

On Black Friday this year, consumers dropped $9 billion online, a 21% increase over 2019, according to data from Adobe Analytics.

In-store sales were down more than 50%.

States that limited gatherings saw 265% year-over-year growth in online shopping on Black Friday, compared to states without restrictions. Adobe also found a 52% year-over-year increase ain curbside and in-store pickup.

Facebook

A Facebook post promising free groceries from Aldi is fake.

The Facebook page, Aldi Store is not even the grocery chain’s Facebook page. The legitimate page is Aldi USA.

The post says for its 75th birthday, every single person who shares and comments by 5p.m. Sunday will get one of those Christmas food box delivered straight to their door by Monday, Nov. 30.

Zoom

Zoom is posed to report third-quarter results Monday after the closing bell, offering investors clues as to whether the video conferencing compnay has managed to sustain its breakneck growth.

For its three months ending in July, Zoom’s sales surged by 355% year-over-year, accelerating from the previous quarter’s 170% increase.

Zoom has been one of the biggest beneficiaries of the pandemic as people work and school from home.

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