Black Friday online sales surpass a new record of $9 billion

Black Friday shoppers wait to enter the Coach store at Opry Mills Mall on November 25, 2022 in Nashville, Tennessee.

Seth Herald | AFP | Getty Images

According to Adobe, which tracks sales on retailers’ websites, consumers spent a record $9.12 billion on online shopping during Black Friday this year.

Total online sales for the day after Thanksgiving rose 2.3% year over year, and electronics made a big contribution as online sales in October rose 221% on an average day, Adobe said. Toys was another popular category for shoppers, up 285%, as was exercise equipment, up 218%.

Many consumers have embraced flexible payment plans on Black Friday as they continue to struggle with high prices and inflation. Payments for Buy Now, Pay Later increased 78% compared to last week, beginning Nov. 19, and revenue from Buy Now, Pay Later increased 81% over the same period.

Some of this year’s hottest items were gaming consoles, drones, Apple MacBooks, Dyson products and toys like Fortnite, Roblox, Bluey, Funko Pop! and Disney Encanto, according to the report.

Black Friday shoppers also broke a record for mobile orders, as 48% of online sales were made from smartphones, up from 44% a year earlier.

The record-breaking spending follows a strong Thanksgiving shopping day that saw consumers shell out an all-time high of $5.29 billion online, up 2.9% year over year. According to Adobe, shoppers typically spend around $2 billion to $3 billion online in a day.

For retailers, these numbers could be a promising indicator for the coming weeks. Early holiday forecasts were muted, with Target, Macy’s, Nordstrom and other retailers reporting sluggish sales in late October and early November. Consumer sentiment has also softened over the past month as inflation hovers near four-decade highs.

Although Black Friday is over, e-commerce activity will remain strong throughout the weekend, according to Adobe’s report. Adobe expects consumers to spend $4.52 billion on Saturday and $4.99 billion on Sunday ahead of the biggest online shopping day of the year, Cyber ​​Monday.

This year, Cyber ​​Monday is expected to drive $11.2 billion in spending, up 5.1% year over year, according to Adobe.