Black Friday Online Sales Hit Record $9.12 Billion Despite Economic Headwinds
Online Black Friday sales reach a record $9.12 billion, edging past last year's figures despite inflation and economic concerns. Consumers actively hunt for steep discounts across electronics, toys, and apparel.
Online shoppers spend a record $9.12 billion on Black Friday, marking a 2.3% increase over last year and surpassing initial analyst expectations. This milestone occurs despite a sluggish start to November and broader economic pressures like inflation, proving that consumers still show up for major holiday discounts.
Retailers offer the steepest discount rates of the season to attract shoppers with stretched wallets, leading to strong correlations between deep price cuts and final sales volumes. The most popular discounted categories include toys, gaming, consumer electronics, home appliances, and apparel, with consumers specifically holding out for the best possible deals.
Thanksgiving Day also sees stronger than expected online spending, reaching $5.29 billion in the U.S. alone. Mobile devices drive the vast majority of shopping traffic, accounting for 78% of all sales activity as buyers seamlessly browse and purchase holiday gifts directly from their smartphones.