Americans spent a record $9.12 billion online this Black Friday as they avoided the pinch of high inflation and benefited from bargain deals on everything from smartphones to toys, according to a poll released on Saturday.
Adobe (NASDAQ: ADBE) Inc’s statistics and insights arm, Adobe Analytics, said online spending rose 2.3% on Black Friday. As a result, shoppers are waiting until the typical big shopping days for deals, even though sales begin as early as October.
Black Friday is the biggest day for retail sales in the country. The day is often seen as a signal for the start of the Christmas business. In the US, it’s the first Friday after Thanksgiving. As a result, numerous retailers heavily advertised discounted offers around this time.
To measure e-commerce, Adobe Analytics looks at website transactions. This tool has access to data on purchases made by 85% of the top 100 online retailers in the US. It had forecast a modest 1% increase in Black Friday sales.
Adobe anticipates that Cyber Monday will once again be the busiest day of the season for online shopping. Along with $11.2 billion in revenue.
After the pandemic hampered in-store shopping for the past two years, consumers were expected to flock to stores. However, Black Friday morning saw fewer shoppers than usual due to sporadic rain in some areas of the country.
According to Adobe data, 48% of all Black Friday digital sales were made by Americans using their smartphones for holiday shopping.
Brands join the Black Friday frenzy
Indian firms are looking for new ways to make money to increase sales. Also, they are currently joining the trend. The day after Thanksgiving, known as Black Friday, was first observed in the United States and marked the start of the holiday shopping season.
This is the day when the most significant retail sales and discounts take place in the United States. But today the event is no longer just for Americans.
In keeping with the theme of Black Friday, major companies in the Indian market including Samsung, Amazon, Uniqlo and Domino’s launched various amazing offers and discounts on Friday.
57% of purchases were made by customers in Tier 2 and Tier 3 markets. Nykaa’s Pink Friday sale saw a 12x increase in revenue on Friday.
The Select CityWalk mall in Delhi saw a 10% increase in visitors. Additionally, Woodland, a footwear brand, saw sales rise 20%. According to Friday’s reply, Reliance Retail is also likely to triple its electronics sales over the weekend.
Deals are expected to surge even further as brands extend their sales into the following week, or “Cyber Monday.”
