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

Economic Indicators Nov 26, 2022 04:05PM ET
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© 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
 
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(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.

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

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Comments (18)
Thotsawat Telan
Thotsawat Telan Nov 28, 2022 10:51AM ET
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2% up is really bad. Inflataion = less goods with more money.
PM Coffee
PM_Coffee Nov 26, 2022 8:07PM ET
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This article is completely misleading.  Foot traffic was dismal and only a meager increase in online.  The headline should be ... Layoffs Coming
Al Ose
Al Ose Nov 26, 2022 7:20PM ET
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Up less than 1% from 2 years ago. Hardly stellar
James Choi
James Choi Nov 26, 2022 6:58PM ET
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AMAZON being the top leading online retail giant $$$$ Buying AR open for 100+++++
Jay Garrelts
Jay Garrelts Nov 26, 2022 5:23PM ET
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Yea right
Kevin Brown
333X2 Nov 26, 2022 4:48PM ET
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after accounting for inflation sales are actually down 5.5%...... not good
Jon Arcade
Jon Arcade Nov 26, 2022 4:48PM ET
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Not to mention they dont say anything about The decrease in shopping brickstores traffice and the thinner profit margins. 😮‍💨
Kevin Brown
333X2 Nov 26, 2022 4:22PM ET
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are the accounting for inflation or no? if no, then sales actually fell.
Al Ose
Al Ose Nov 26, 2022 4:21PM ET
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Why would they spend less money? Spending it just gets less stuff.
Gyuri Molnár
Gyuri Molnár Nov 26, 2022 3:51PM ET
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So good to hear that this time is really different!
Warm Camp
Warm Camp Nov 26, 2022 1:49PM ET
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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.
 
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