Despite the recession and higher prices, this Black Friday set a new record of $9.12 billion in online sales. Adobe Analytics provided the data after tracking over 85% of the online retailers in the USA.
Online Sales Statistics
The previous high mark in online Black Friday sales was 2020, when it reached $9.03 billion. This year’s sales surpassed the previous year’s by 2.3%. Most orders were received in the last week before Black Friday, between November 19 -25, increasing the sale by 78% more than the previous week.
Reports state that almost 48% of online sales were over smartphones, which was 44% in 2021.
“Buy now, pay later” services were highly appreciated and Utilized By The Shoppers.
What Adobe had to Say?
Adobe Digital Insights lead analyst Vivek Pandya said that though this Black Friday experienced record online spending, consumers were also more budget-conscious. He mentioned an increased tendency among buyers to use the method of paying later while they buy desired products for their family and friends.
Overall Predictions for the Season
The record sales on Black Friday couldn’t, however, show much hope that the overall holiday season will go well and not have a negative impact of inflation.
Total Sales
According to The National Retail Federation, total holiday season sales may this year be up by 6%-8% only, which was 13.5% last year and may even go down further as the estimates haven’t been done considering inflation.
Total Online Sales
Adobe Analytics also sees the chance to total online sales during this holiday season (November 1- December 31) limited to a 2.5% increase, unlike the 8.6% jump in the last year.
The Most Sold Products
Electronics products were the most desired products, with 221% higher purchases than last month’s average day. Smart home products, toys, audio equipment and exercise equipment, were the other most sold items.
