Black Friday sales to top $9 billion online

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Black Friday sales to top $9 billion online

According to Adobe, online sales for the day after Thanksgiving are expected to top $9 billion, which is the highest level of sales on retailers websites. The shoppers spent $7.28 billion on websites. Adobe said that number could be as much as $9.2 billion before the day is done.

The record-breaking spending comes on the heels of a strong day of Thanksgiving shopping, in which consumers shelled out an all-time high $5.29 billion online, up 2.9% year-over-year. In the average day, shoppers spend between $2 billion and $3 billion online, according to Adobe.

The company said that shoppers were picking up Apple products such as watches and AirPods, smart speakers and televisions, espresso machines, and gaming consoles, as well as toys from Funko, Hatchimals and Squishmallows.

Mobile shopping also hit a record high this year, with sales from smartphones accounting for 55% of online sales on Thanksgiving Day. The company predicts that these sales will account for 53% of Black Friday sales.

Inflation-weary consumers were enticed by strong discounts to put more items in their carts. The average order volume was up 12% during the season. There was an increase in demand for toys, with deals as high as 33% off.

These numbers may be a good indicator of the weeks ahead for retailers. Early holiday forecasts have been muted. Target, Macy s, Nordstrom and other companies reported a lull in sales in late October and early November. Consumer sentiment has weakened in the past month as inflation hovers near four-decade highs.

It has increased the pressure on retailers on Black Friday weekend, a time that is often associated with the biggest deals of the holiday shopping season.

The five days from Thanksgiving Day to Cyber Monday will generate around $34.8 billion in online spending, up nearly 3% compared to 2021, according to Adobe. The biggest online shopping day on Monday is predicted to be the biggest online shopping day, with sales expected to top $11.2 billion, according to the company.