Black Friday online sales set new record despite inflation woes
• Gaming was a popular category, with buyers snagging Xbox Series X and PlayStation 5 consoles, as well as popular games FIFA 23, NBA 2K23 and Pokemon Scarlet & Violet.
• Toys (up 285% compared to last year) and exercise equipment (up 218%) performed well on Black Friday, too.
Zoom in: In a sign of the times, consumers took the opportunity to use new payment methods, with buy now, pay later options jumping 78% compared to the week before Black Friday, according to Adobe Analytics data.
Overview of shoppers filling the halls a New York mall. Photo: Howard Schnapp/Newsday RM via Getty Images
A record $9.12 billion was spent online for Black Friday , with electronics driving much of the growth compared to last year , according to new Adobe Analytics data .
Why it matters: These record-breaking sales happened amid rising concerns about inflation and the cost of living.
Details: Sales for Black Friday jumped 2.3% year over year , according to Adobe.
• Purchases on electronics led the way, soaring by 221% compared to an average day in October. Smart home items jumped 271% and audio items jumped 230%.
• Gaming was a popular category, with buyers snagging Xbox Series X and PlayStation 5 consoles, as well as popular games FIFA 23, NBA 2K23 and Pokemon Scarlet & Violet.
• Toys (up 285% compared to last year ) and exercise equipment (up 218%) performed well on Black Friday , too.Zoom in: In a sign of the times, consumers took the opportunity to use new payment methods, with buy now, pay later options jumping 78% compared to the week before Black Friday , according to Adobe Analytics data .
• Mobile shopping dominated the field, too, setting a new record with 48% of online sales coming from phones, which is up from 44% in 2021.The big picture: Prices for gas, food, rent and essentials are up this year , which has left consumers in search of deals and discounts this Black Friday , the Associated Press reports. Americans reached into their savings and used their credit cards this holiday season to spend amid inflation.
• Last year , consumers were worried about supply chain-related issues as stores struggled to bring in items and products, which left consumers empty-handed, per AP.
