Shoppers Smash Black Friday Records with Billions in Spending Amid Economic Jitters

American shoppers opened their wallets wide this Black Friday. They spent billions online and in stores. This happened despite ongoing economic concerns.

Initial data from Adobe Analytics confirms a record-breaking online sales day. Consumers navigated inflation and uncertainty to hunt for deals.

Online Sales Hit Unprecedented Highs

According to Adobe Analytics, U.S. online spending reached $11.8 billion on Black Friday. This marked a sharp 9.1% increase from the previous year. Sales peaked at $12.5 million per minute during the busiest shopping hours.

Thanksgiving Day also set a new record with $6.4 billion in online sales. Top-selling categories included electronics, video games, and home appliances. Artificial intelligence and social media ads heavily influenced purchasing decisions.

In-Store Traffic Tells a Different Story

Foot traffic in physical stores saw a decline compared to last year. Data from RetailNext showed a 3.6% drop in U.S. Black Friday store visits. However, this was a milder decrease than seen in the days before the holiday.

Sensormatic Solutions reported a similar 2.1% dip in retail traffic. This was in line with their predictions for the year. The firm noted that Black Friday has evolved into a week-long event, shifting consumer behavior.

Thought you’d like to know-

How much did shoppers spend online on Black Friday?

Shoppers spent a record $11.8 billion online in the U.S. according to Adobe Analytics. This figure represents a significant 9.1% jump from the previous year’s sales.

Did people still go to physical stores?

Yes, but in-store traffic was down. RetailNext reported a 3.6% decline in foot traffic compared to the previous Black Friday. The busiest shopping period in stores is now spread out over a longer promotional window.

What were the most popular items purchased?

Electronics, video game consoles, and home appliances saw strong sales. On platforms like Shopify, cosmetics and clothing were also top-performing categories for merchants worldwide.

How did economic concerns affect spending?

Shoppers were more budget-conscious, seeking the best deals. Salesforce data showed that while overall spending was up, the number of items purchased per order actually decreased.

What is the forecast for Cyber Monday?

Adobe expects Cyber Monday to set another record, potentially reaching $14.2 billion in U.S. online sales. This would make it the biggest online shopping day of the year.