US Black Friday Online Sales Hit Record $9 Billion Despite High Inflation: Adobe Analytics

Reuters
By Reuters
November 26, 2022Businessshare
US Black Friday Online Sales Hit Record $9 Billion Despite High Inflation: Adobe Analytics
Shoppers walk past sale signs in the outdoor shopping area of Avalon during Black Friday in Alpharetta, Ga., on Nov. 25, 2022. (Jessica McGowan/Getty Images)

U.S. shoppers spent a record $9.12 billion online this Black Friday, a report showed on Saturday, as consumers weathered the squeeze from high inflation and grabbed steep discounts on everything from smartphones to toys.

Online spending rose 2.3 percent on Black Friday, Adobe Inc.’s data and insights arm Adobe Analytics said, thanks to consumers holding out for discounts until the traditionally big shopping days, despite deals starting as early as October.

Adobe Analytics, which measures e-commerce by analyzing transactions at websites, has access to data covering purchases at 85 percent of the top 100 internet retailers in the United States.

It had forecast Black Friday sales to rise a modest 1 percent.

Adobe expects Cyber Monday to be the season’s biggest online shopping day again, driving $11.2 billion in spending.

Consumers were expected to flock to stores after the pandemic put a dampener on in-store shopping over the past two years, but Black Friday morning saw stores draw less traffic than usual with sporadic rain in some parts of the country.

Americans turned to smartphones to make their holiday purchases, with data from Adobe showing mobile shopping represented 48 percent of all Black Friday digital sales.

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