Sales tax concerns if you sell through multiple channels
Businesses have new ways to sell today, as marketplaces such as Amazon, TikTok and the business’s...
How big were online sales on Monday, Nov. 28?
Defying expectations of an off year, Cyber Monday broke online sales records, with U.S. consumers spending about $11.3 billion, up 5.8% year-over-year, to score the biggest online shopping day of all time. Inflation played little part in the numbers, analysts said.
In the peak hour between 8 and 9 p.m. Pacific, consumers spent $12.8 million every minute.
Spending on Cyber Monday was greatest on toys, up almost sevenfold compared with an average day in October. Electronics e-sales were up 391%, computers up 372%. Online sales of sporting goods, appliances, books and jewelry all more than quadrupled.
On Cyber Monday 2021, $10.7 billion was recorded in sales, a drop from 2020’s $10.8 billion.
“Cyber Week” 2022, the period including Thanksgiving and Black Friday, is estimated to reach $35.27 billion in sales online, up 4% over last year and accounting for 16.7% of all sales in the months of November and December.
Overall eCommerce sales are predicted to reach almost $1.3 trillion in the U.S. this holiday season, compared with $1.21 trillion last year.
Sounds exciting – an eager audience for your products. But again, watch details related to your sales tax compliance this banner season:
Sales tax compliance can seem overwhelming, but it doesn’t have to be. Feel free to contact us for all your sales tax compliance needs – and check out our eBook, The Guide to Getting Sales Tax Right.
Businesses have new ways to sell today, as marketplaces such as Amazon, TikTok and the business’s...
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