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U.S. Black Friday online sales hit record $9 billion despite high inflation- Adobe Analytics

Published 11/26/2022, 09:26 AM
Updated 11/26/2022, 04:05 PM
© Reuters. FILE PHOTO: A woman passes by signs advertising sales of Black Friday in the Manhattan borough of New York City, New York, U.S., November 26, 2021. REUTERS/Jeenah Moon/File Photo

(Reuters) -U.S. shoppers spent a record $9.12 billion online this Black Friday, a report showed on Saturday, as consumers weathered the squeeze from high inflation and grabbed steep discounts on everything from smartphones to toys.

Online spending rose 2.3% on Black Friday, Adobe (NASDAQ:ADBE) Inc's data and insights arm Adobe Analytics said, thanks to consumers holding out for discounts until the traditionally big shopping days, despite deals starting as early as October.

Adobe Analytics, which measures e-commerce by analyzing transactions at websites, has access to data covering purchases at 85% of the top 100 internet retailers in the United States.

It had forecast Black Friday sales to rise a modest 1%.

Adobe expects Cyber Monday to be the season's biggest online shopping day again, driving $11.2 billion in spend.

Consumers were expected to flock to stores after the pandemic put a dampener on in-store shopping over the past two years, but Black Friday morning saw stores draw less traffic than usual with sporadic rain in some parts of the country.

Americans turned to smartphones to make their holiday purchases, with data from Adobe showing mobile shopping represented 48% of all Black Friday digital sales.

Latest comments

2% up is really bad. Inflataion = less goods with more money.
This article is completely misleading.  Foot traffic was dismal and only a meager increase in online.  The headline should be ... Layoffs Coming
Up less than 1% from 2 years ago. Hardly stellar
AMAZON being the top leading online retail giant $$$$ Buying AR open for 100+++++
Yea right
after accounting for inflation sales are actually down 5.5%...... not good
Not to mention they dont say anything about The decrease in shopping brickstores traffice and the thinner profit margins. 😮‍💨
are the accounting for inflation or no? if no, then sales actually fell.
Why would they spend less money? Spending it just gets less stuff.
So good to hear that this time is really different! 😉
Another misleading article. Getting 2.3% growth for online sales is actually a decline, because inflation is 8% officially and much more in real count. Needless to add here that in-store sales on Black Friday were miserable by any count.
People refuse to accept that current inflation is NOT hampering retail sales.  The data is NOT just this holiday but every month so far.  I find it incredulous that recession keeps propping up like the words "transitory". We have the proof that the consumer has the money to spend.  Disposable income is still high.  In the 80's we had double digit inflation and sales did fine.  This time around however we will hit a wall way before we see double digits. For now enjoy the show and holiday.
You must be doing better than my family… glad to hear… but inflation always impacts the low wage earners the most… democrat policy hard at work making sure they have a permanent underclass
When measured in $USD which is at least worth 8% less this year than last, it's easy to spin online sales growth as a positive "record." The reality is that the US economy has been wobbling into recession 2 of 3 quarters this year.
I'm dizzy from the spin they are putting on this. Physical shops were quiet but online was busy so everything is awesome?
naturally the amount is a record as it will be each year whenever inflation raises the prices.  less goods sold but higher prices.
Despite? Should't it be because of? Man these articles...
Well I bought walking boots for 40% off original retail price. And so did my sister. So buying yesterday was okay if you knew what a good price to pay was . I waited 2 months at least for the purchase. Most everything I needed was marked down 40- 50 %. Except bullion lol
lemme guess, Nasdaq rallies cause of this Monday?
Remember- another fed rate hike on the 17th (?) . Maybe.50% instead of .75% DX will fall and stocks will rise. It’s the plan.
i don't disagree.  traders saw powell blink in one of the conferences so they drop SP500 up 1% as it was a "sign" that fed would pivot soon.
wouldnt this actualy mean bearish since it implies fed has alot more leeway on increasing rates on higher levels whike keeping the consumption rates on a stable level
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