This blog was updated on November 30, 2022
If Black Friday and Cyber Monday 2022 are any indication, online shoppers are back in full force. Electronics, smart home equipment, toys and exercise equipment had the highest numbers on Black Friday, according to Adobe Analytics. Overall Black Friday numbers reached new levels, with a record-breaking $9.12 billion, or a 2.3% increase from last year. Cyber Monday sales hit a record $11.3 billion, a 5.3% jump from 2021.
The data from Sovos’ global tax rate calculation engine and database also shows new levels of sales, but that it can keep pace with the growth.
On Black Friday this year, Sovos had a 22% increase in line item count from 2021 and a 12% increase in transaction count. Cyber Monday line item count showed a 94% increase compared to 2021 numbers, with a 6% transaction volume increases.
Sovos has prioritized investing in products and infrastructure to ensure seamless performance during these peak spending periods. From 24/7 monitoring to the state of Active/Active in place, Sovos teams are constantly working to give clients the best experience possible. This was recognized during Black Friday and Cyber Monday as uptime was 100% with an average response time around 55 milliseconds.
Sales and use tax remains, even as shopping trends fluctuate
Regardless of labor shortages, supply chain issues or a global pandemic, October through December are traditionally heavy shopping months. Sovos treats every day like its Black Friday or Cyber Monday, as any day could be the busiest day of the year for someone’s business.
That’s why it’s critical for times of record sales to still feel like “business as usual.” Companies want to know that they will have uninterrupted, reliable and fast service. As ecommerce shopping continues to remain a top option for shoppers, Sovos Sales and Use Tax clients had customer needs met and met quickly.
Learn how Sovos provides unparalleled uptime and performance, ensuring you stay competitive year-round – not just on Black Friday and Cyber Monday.