Black Friday e-commerce spending popped 7.5% from a year earlier, reaching a record $9.8 billion in the U.S., according to an Adobe Analytics report, a further indication that price-conscious consumers want to spend on the best deals and are hunting for those deals online.
“We’ve seen a very strategic consumer emerge over the past year where they’re really trying to take advantage of these marquee days, so that they can maximize on discounts,” said Vivek Pandya, a lead analyst at Adobe Digital Insights.
Black Friday’s spending spike reflects a consumer who is more willing to spend than in 2022, when gas and food prices were painfully high.
Pandya noted that impulse purchases may have played a role in the Black Friday growth since $5.3 billion of the online sales came from mobile shopping. He noted that influencers and social media advertising have made it easier for consumers to get comfortable spending on their mobile devices.
With how many “not an actual sale” sale items were online for Black Friday?
Can’t wait to see how all that extra corporate profit trickles down into cost of living raises am I right?
Ye, I want a specific microwave, but it is currently more expensive than ever…
Depressing news. People don’t need stuff. They are being told they need stuff
You’re going need it, you’ll buy it and you’ll like it
If it ain’t at least 50% off it’s not a deal. I bet people went for any % off. I did get Screambox and Fandor streaming for 50% off 1/yr. If you’re into the niche streaming you should check it out. I can’t find a deal on 1/yr PS+. Oh well I’m good for 2/yrs.
I’m sure a lot of people bought their 10th TV because it just was just a good deal I couldn’t pass it up. I’ve learned there’s deals all through out the year. Just looking at slickdeals.net shows that.
I wonder what they bought. I saw barely any good deals.
Same. I’ve been browsing the past 2 days and maybe bookmarked just one item that is marked as part of black friday sale. I’ll probably check again on cyber monday as there might be better deals then.
You would be surprised with how many people are impulsive and just follow trends instead of being financially responsible, let alone make sure they are getting a great deal instead of bare face lies
Is that spending percentage adjusted for inflation?
Since last year? USD inflation has been 5.1%, so assuming the 7.5% spending increase to $9.8b doesn’t account for inflation, the flat number for 2022 was $9.1b, and adding on an inflation adjustment would mean 2022 spending in 2023 dollars was $9.6b, meaning a 2.1% comparative increase in 2023 dollars. But they don’t link to the study, so I can’t say whether they already accounted for inflation or not.
Ultimately the record $9.8b number may or may not account for inflation, but either way, if it doesn’t, I’m sure that it’s near the peak.
Bigger percentage, more clicks. I’m going to wager they did not use an inflation-adjusted number.
the inflation percentage is for the whole economy but seems low for consumer items like tech and clothing which i’d think is what drives black friday, most of those items are up 100% to 200% which would really make a loss yoy with someone clever trying to promote optimism.
What shirts and tech are you buying that’s up 100-200% from a year ago?
They are just making up bullshit.
underarmour and adidas shorts and gym clothes for starters, $20 to $30 per unit this year, i bought some for $5 two years ago
I just went on their website and found a pair for $9. I bought some recently for $35, but they’re the nicer version.
My suits and dress attire hasn’t really seen a cost increase. My grocery bill for sure has (probably ~10%) otherwise everything else has been pretty stable.
sooo…you’re saying I’m right
I bought nothing, broke.
I bought nothing because:
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I’m broke
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There wasn’t any good sale
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I already have everything I need
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Ugh, same here money tight
They are just tracking online? I will guess in store is way down. People probably aren’t spending more overall.
It talks about that in the article.
These corporations will just keep on increasing prices as long as people keep on buying.
Way to go, consumers.
They are gonna keep on increasing prices even if no one buys. That’s what is currently driving any remaining spending. It’s 100 now or 150 later.
I’m by no means saying it’s right it wrong to spend now vs later but I know for a fact they will always charge more eventually.
Collectively if a large group of people quit buying a product or service it would absolutely drive prices down. Thinking that these companies are just increasing prices for no other reason than greed is naive. It’s far more sinister.
