Black Friday online spending hits $10.8B, fueled by discounts and mobile shopping

November 30, 2024 08:18 AM PST | By Invezz
 Black Friday online spending hits $10.8B, fueled by discounts and mobile shopping
Image source: Invezz

US shoppers spent a record $10.8 billion online this Black Friday, marking a 10.2% year-over-year increase, according to Adobe Analytics.

As the official kickoff to the holiday shopping season, Black Friday showcased the growing dominance of e-commerce, with consumers flocking to mobile devices and desktops to snag deals on everything from electronics to beauty products.

The surge highlights the shift in consumer behavior, with traditional brick-and-mortar retailers facing stiff competition from e-commerce giants like Amazon and Walmart.

Adobe Analytics, which monitors more than 1 trillion visits to US retail sites, reported a notable jump in online spending compared to previous years.

In 2023, online Black Friday sales reached $9.8 billion, up from $9.1 billion in 2022.

The upward trend reflects consumers’ increasing reliance on digital platforms, particularly during high-discount events like Black Friday.

E-commerce leaders benefit from the boom

Amazon and Walmart, two of the biggest players in the US e-commerce landscape, are well-positioned to capitalize on the digital shopping frenzy.

Walmart, which operates 4,700 stores nationwide, has significantly expanded its store-to-home delivery options to cater to online shoppers.

These investments aim to capture a larger share of the lucrative holiday season.

Meanwhile, Adobe’s data revealed that shoppers favored mobile devices for their purchases, a trend that aligns with the convenience of shopping from home or on the go.

Corey Coscioni, a 58-year-old shopper, noted he was hunting for gifts for his family both online and in-store, underscoring the hybrid shopping approach many consumers now adopt.

What’s hot and what’s not

This year’s top-selling online products reflected diverse consumer interests.

Makeup, skincare, and haircare products led the charge, alongside Bluetooth speakers and espresso machines.

Toys saw a staggering 622% increase in online sales compared to average daily sales in October, while jewelry sales rose 561%, and appliances spiked 476%.

These statistics emphasize the variety of products consumers sought during Black Friday, driven by deep discounts and aggressive marketing campaigns.

Salesforce reports differing numbers

Salesforce, a cloud-based software firm, offered a separate analysis, estimating US Black Friday online sales at $17.5 billion, a 7% rise from the previous year.

Salesforce’s data, based on traffic patterns from thousands of online retailers, also highlighted strong sales in home appliances and furniture, reflecting a broader consumer focus on practical, big-ticket items.

The significant growth in Black Friday online spending sets the stage for a robust holiday shopping season, with retailers competing fiercely for consumer dollars.

As Cyber Monday approaches, e-commerce platforms are expected to see another surge in sales, further cementing the role of online shopping in modern retail.

With Black Friday establishing itself as a digital powerhouse, the focus for retailers will likely remain on enhancing user experience, offering attractive discounts, and refining delivery logistics to meet growing consumer expectations.

The post Black Friday online spending hits $10.8B, fueled by discounts and mobile shopping appeared first on Invezz


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