Complete Story
11/28/2023
Online Black Friday Sales Reach Record $9.8 Billion
They were boosted by mobile shopping
This year, online Black Friday sales this year reached a record $9.8 billion, according to data from Adobe Analytics. That’s an increase of 7.5 percent over last year’s Black Friday online spending, when inflation and rising costs were hitting consumers hard.
The largest driver of online Black Friday sales came from mobile. Adobe Analytics says smartphone shopping accounted for $5.3 billion of all online Black Friday sales. Smartphone online sales were up 10.4 percent year-over-year. Another factor in increasing online Black Friday sales this year was Buy Now Pay Later (BNPL) programs, available in many smartphone apps. In the week ending on Nov. 24, BNPL usage rose by 72 percent versus the prior week.
And mobile shopping isn’t expected to be just a Black Friday bump. For the first time ever, Adobe Analytics expects mobile shopping to overtake desktop online shopping for the entire holiday period. Hot categories this Black Friday included electronics, which were up 152 percent compared to October’s pre-holiday levels; apparel (up 136 percent); toys (up 132 percent); jewelry (up 114 percent) and appliances (up 112 percent). When it comes to electronics, smart watches, TVs and audio equipment had some of the top sales growth compared to October’s pre-holiday levels.
Please select this link to read the complete article from Fast Company.
