Online Retail Sales Hit Record $9 Billion on Black Friday

Online sales rose 2.3% from a year prior, compared to projections for a 1% gain

Online shopping transaction
Getty Images.

Today is Cyber Monday, a day that will feature online deals and discounts for shoppers. Cyber Monday sales are estimated to hit $11.2 billion, up 5.1% from last year, according to projections by Adobe Analytics. 

Adobe reported online sales hit a record $9.12 billion on Black Friday, despite persistently high inflation. That is up 2.3% from a year ago. Adobe had forecast Black Friday sales to rise just 1%.

Instead of flocking to malls, U.S. shoppers turned to smartphones to make many of their holiday purchases, with data from Adobe showing mobile shopping represented about 48% of all Black Friday digital sales.

Electronics were a major contributor as online sales surged 221% compared to an average day in October. Toys were another popular category for shoppers, up 285%. Exercise equipment sales were up 218%.

Consumers also used flexible payment plans on Black Friday. Buy Now Pay Later (BNPL) payments increased by 78% compared with the previous week, and BNPL revenue was up 81% from the previous week, according to Adobe.

Holiday Sales, November 2022
Adobe Analytics.
Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
Service
Name
Description