Black Friday online sales set to hit record

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Black Friday online sales set to hit record

Online sales for Black Friday aim to set a record as receipts get totaled.

Consumers spent $7.28 billion up to 6: 00 pm ET on Friday, according to Adobe Analytics.

Consumers will spend between $9 billion and $9.2 billion for the day, and set a new record when the final tally is in.

Among the top sellers are Apple Watches, Apple AirPods, smart speakers, smart televisions and digital cameras.

On Thanksgiving Day, shoppers spent $5.3 billion online, up 2.9% from the holiday last year and setting a new record with phones accounting for 55% of online sales, up from 51% last year.

Discounts as high as 33% make toys a hot item.

The category has seen a 176% increase in online sales compared to the average daily sales in October.

After two years where the Pandemic-related anxieties kept many people at home, some shoppers are returning to physical stores for Black Friday, according to Vivek Pandya, lead analyst, Adobe Digital Insights. Black Friday is expected to surpass $9 billion in online sales for the first time, as consumers start to value the ease and convenience of shopping from home. Early deals in October got consumers to spend more than $72 billion online, so shoppers and retailers had a jump on the season.

Consumers are expected to spend $4.52 billion on Saturday, which is Small Business Saturday.

Estimates are for $4.99 billion for Sunday.

Retailers are using discounts to get shoppers attention with toy discounts around 34%, sporting goods 19% and apparel 17%.

If you are looking for a computer, it is advised to wait until Cyber Monday, when discounts are expected to peak at 27%.

The five days from Thanksgiving Day through Cyber Monday is expected to generate $34.8 billion in online spend, up 2.8% year-over-year.