Black Friday Online Sales Up 7.5 Percent per Adobe Analytics

Online sales on Black Friday (November 24, 2023) reached nearly $10 billion, according to data from Adobe Analytics: spending rose 7.5% compared to last year’s shopping holiday to reach a record $9.8 billion.

Eighty percent of Black Friday online orders used standard shipping, it found.

Electronics were a major growth driver, with online sales up 152% (compared to average daily sales in October 2023, rather than last year). Smart watches (+577%), TVs (484%), and audio equipment (376%) particularly sold well, Adobe Analytics reported.

Black Friday hot sellers included toys, gaming and games, Bluetooth headphones, smartphones, skin care products, cookware sets, and coffee makers.

This weekend, Adobe expects consumers to spend $4.8 billion on Saturday; $5.2 billion on Sunday, and $12 billion on Cyber Monday – which would be a 5.4% increase from last year.

Adobe Analytics downplayed the impact of inflation. “Strong consumer spending online continues to be driven by net-new demand and not higher prices. Adobe’s Digital Price Index shows e-commerce prices have fallen consecutively for 14 months (down 6% YoY in Oct. 2023). Adobe figures are not adjusted for inflation, but if online deflation were factored in, growth in consumer spend would be even stronger.”

Vivek Pandya, lead analyst for Adobe Digital Insights, said on Friday: “The strong online sales momentum for Black Friday this year further emphasizes the staying power the major holiday shopping days continue to have. Consumers still expect the best discounts during these days and retailers are delivering, which is why we anticipate a record $37.2 billion sales during Cyber Week (5 days from Thanksgiving to Cyber Monday).”

Methodology: “Adobe provides the most comprehensive view into U.S. e-commerce by analyzing commerce transactions online, covering over 1 trillion visits to U.S. retail sites, 100 million SKUs and 18 product categories – more than any…

This is only a snippet of a eCommerce Article, please visit the Authors Website and Read the Full Article