An impressive $9.12 billion was spent online by American consumers on Black Friday this year, according to a report released on Saturday by Adobe, which monitors sales on retailers’ websites.
According to Adobe, internet spending increased 2.3% on Black Friday compared to an ordinary day, when customers spend approximately $2 billion to $3 billion online. Due to high inflation, customers are spending more to buy less.
“E-commerce demand has remained strong regardless, and Black Friday is set to surpass $9 billion in online sales for the first time, as consumers come to value the ease and convenience of shopping from home,” said Vivek Pandya, lead analyst at Adobe Digital Insights.
“Some shoppers are returning to physical stores for Black Friday, after two years where pandemic-related anxieties kept many people at home.”Vivek Pandya
Among this year’s best-selling items are electronics and appliances, such as Apple and Dyson products, as well as toys from Funko, Hatchimals and Squishmallows. Mobile shopping also reached an all-time high, with sales from smartphones making up 55% of all online transactions on Thanksgiving, which will make-up 53% of all Black Friday sales, Adobe predicts. “Mobile shopping had struggled to grow for many years, as consumers found the experience lacking compared to desktop,” Pandya said.
“Thanksgiving this year has become an inflection point, where smartphones drove real growth and highlights how much these experiences have improved.”Vivek Pandya
Another record high is expected to be set during Cyber Week, the five days from Thanksgiving through Cyber Monday, when an estimated $34.8 billion in online spending is expected, up nearly 3% from last year. “As Black Friday discounts transition to being pre-Cyber Monday discounts, we expect online spending momentum to continue through the weekend, “ the analyst stated.
Cyber Monday is expected to be the biggest online shopping day, surpassing Black Friday online sales with totals reaching $11.2 billion, an increase of 5% year-over-year.