Consumers spent $9.12 billion online on Black Friday: analysis

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Consumers spent the most on online shopping on Black Friday, more than $9 billion, according to Adobe Analytics data.

Adobe found that $9.12 billion was spent on Friday, which represents a 2.3% year-over-year increase. Electronics sales were the main driver of this increase, with online sales up 221 percent since the average day in October.

Items such as audio equipment, toys and fitness equipment also sold well, with each selling more than 200 percent from the average day last month.

Adobe also found that consumers are turning to flexible payment methods during price hikes and price hikes. The number of buyers-now, who paid later increased by 78 percent this week compared to last week, and the amount received increased by 81 percent during the same period.

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“While Black Friday drove online spending, we’re also seeing strong signs of budget-conscious shoppers this year,” said Vivek Pandya, Adobe digital analyst. “Consumers are embracing the Buy Now Pay Later payment method more this year so they can buy the gifts they want for family and friends.

The number of sales on mobile phones also reached a new high, with 48 percent of online sales coming from mobile phones, according to Adobe.

Games such as FIFA 23 and gaming devices such as the PlayStation 5 remained popular, and drones and the Apple MacBook also sold well.

Adobe expects e-commerce activity to be strong over the weekend, with consumers spending about $4.5 billion on Saturday and $5 billion on Sunday. Cyber Monday is expected to be the biggest online shopping day of the year, generating over $11 billion in sales.

Adobe’s analysis covers more than 1 trillion visits to US retail websites and 18 product categories.

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