Black Friday online sales hit a record $9.12 billion despite ongoing inflation as categories such as electronics, toys, and exercise equipment posted strong numbers.
- Online sales on Black Friday were up 2.3% year-over-year, according to Adobe Analytics. Electronics were a “major growth driver,” with sales up 221% over the average day in October; smart home items were up 271%; audio equipment was up 230%; toys were up 285%; and exercise equipment was up 218%.
- Mobile transactions accounted for a record 48% of online sales, up from 44% last year.
- Buy Now Pay Later orders rose 78% from the week prior.
- Top sellers included toys such as Fortnite, Roblox, Bluey, Funko Pop!, and Disney Encanto; gaming consoles and games; drones; Apple MacBooks; and Dyson products (airwrap and vacuum).
- Adobe predicts Cyber Monday online sales to hit $11.2 billion and grow 5.1% year-over-year.
- With inflation and continued economic uncertainty, retail executives and analysts weren’t sure what to expect this holiday season, The New York Times reported.
- Amazon said last month it was preparing for a slower growth period and lowered its holiday quarter guidance. The Seattle tech giant is promoting Black Friday and Cyber Monday deals but has not released Black Friday sales data. We’ve reached out for updates and we’ll update when we hear back.
