Black Friday online sales in US hit record $9 billion

Business

A “Black Friday” sign is posted at a retail location in Philadelphia, Monday, Nov. 21, 2022. Bargain hunting is back with full force heading into the holidays. But inflation is limiting how much of a deal consumers will be getting. (AP Photo/Matt Rourke)

(Reuters) — A report on Saturday showed that U.S. shoppers spent a record $9.1 billion online this Black Friday, despite high inflation, as consumers took advantage of steep discounts on everything from smartphones to toys.

The report from Adobe Analytics, which measures e-commerce by analyzing transactions at websites, said online spending rose 2.3% on Black Friday, thanks to consumers holding out for discounts until the traditionally big shopping days, even though deals started as early as October.

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

It expects Cyber Monday to be the season’s biggest online shopping day again, driving $11.2 billion in spending.

Consumers were expected to flock to stores in record numbers this year, but Friday morning saw less in-store traffic than usual with sporadic rain in some parts of the country.

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

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