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.
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