IANS | 27 Nov, 2023
Black Friday generated a record $9.8 billion in US online sales, up 7.5 per cent from a year ago.
According to Adobe Analytics, mobile shopping accounted for $5.3 billion of online sales.
The
best-selling categories on Black Friday were electronics such as
smartwatches and televisions, as well as toys and gaming, reports CNBC.
"We’ve
seen a very strategic consumer emerge over the past year where they’re
really trying to take advantage of these marquee days, so that they can
maximise on discounts,” Vivek Pandya, a lead analyst at Adobe Digital
Insights, was quoted as saying.
Pandya noted that influencers and
social media advertising have made it easier for consumers to spend
money on their mobile devices.
However, shoppers were price-conscious, managing tighter budgets as a result of last year's record inflation and interest rates.
A
total of $79 million of the sales came from consumers who used the 'Buy
Now, Pay Later' flexible payment method, up 47 per cent from last year.
Adobe
collects data by analysing one trillion visits to retail websites in
the US, 18 product categories, and 100 million unique items.
Black
Friday continued the momentum from Thanksgiving Day when online sales
totalled $5.6 billion, an increase of 5.5 per cent from last year.
Adobe expects spending to remain strong over the weekend and into Cyber Monday, with the best deals still to come.
The
report forecasted that online shoppers will spend approximately $10
billion on Saturday and Sunday, and a record $12 billion on Cyber
Monday.