According to data released by American e-commerce research firm Adobe on Saturday, American shoppers spent a record $9.8 billion (approximately 69.5 billion yuan) online on Black Friday, an increase of 7.5% from last year. For retailers who were originally expecting weak sales during the year-end holiday season, this is a positive signal.
Black Friday is one of the most popular shopping days for American consumers, and this year's online sales figures on Black Friday exceeded Adobe's own prediction - analysts at the agency initially predicted that Black Friday's sales would be $9.6 billion.
The data also shows that on the day before Black Friday, American consumers spent $5.6 billion on online shopping during Thanksgiving on Thursday, a year-on-year increase of 5.5%.
The Adobe report found that the best-selling categories of Black Friday are electronic products such as televisions, smartwatches, and audio devices, as well as toys and games. Adobe Chief Analyst Vivek Pandya stated that best-selling products are directly related to the products with the highest discounts.
Pandya stated in a statement, "Black Friday once again dominated this shopping season, with online shopping expenses reaching a record high of $9.8 billion driven by new demand during major shopping festivals. Over the past year, the decline in online product prices has created a favorable environment for consumers, and the significant discounts offered during this shopping season have attracted those who are most price conscious."
Adobe's report also shows that consumers are expanding their budgets through a buy and pay method, with spending on this payment method increasing by 72% in the past week compared to the week before Thanksgiving.
In addition, Pandya pointed out that impulse shopping may have played a certain driving role in the growth of online sales on Black Friday, as up to $5.3 billion in online sales came from shopping on mobile devices, accounting for the first time more than on computers. He pointed out that the promotion of influential public figures and social media advertisements makes it easier for consumers to accept consumption on mobile devices.
Adobe tracks sales of 85 out of the top 100 internet retailers in the United States. The e-commerce research institution stated that its statistics were collected based on over a trillion visits to US retail websites, 18 product categories, and 100 million SKUs of product data.
In addition to Adobe's report, the e-commerce platform Shopify also reported record global sales over the weekend - the platform's "Black Friday" sales exceeded $4 billion this year, 22% higher than last year. According to the company, the average price of items in American consumer shopping carts is $124, and the best-selling product categories include personal care, clothing, and kitchen supplies.
Physical stores are also popular, but not as eye-catching as online shopping data
Similar to the booming data of online shopping, physical stores in the United States also saw a large influx of holiday consumers on Black Friday, although overall performance was not as eye-catching as online shopping data.
Mastercard Spendingpulse reported on Saturday that US Black Friday retail sales, excluding car sales, increased by 2.5% year-on-year. SpendingPulse measures the physical and online retail sales of various payment forms. The report shows that as consumers purchase discounted products online, the e-commerce sales of "Black Friday" increased by 8.5% year-on-year this year, while in store sales only increased by 1.1%.
Sensormatic Solutions, which tracks the flow of shoppers in physical stores, found that the number of visits to Black Friday physical store customers increased by 4.6% compared to last year. The company stated that this is a turning point for retailers as the average foot traffic decreased by 2.4% earlier this year.
Grant Gustafson, Head of Retail Consulting and Analysis at Sensormatic, said in a statement, "Although we had originally expected growth, the foot traffic of customers in the store still exceeded our expectations. Consumers have once again found joy in physical store shopping, seeing it as an experience to share with their loved ones. This demonstrates the efforts retailers have made in simplifying the shopping process and providing a satisfactory experience."
With an increase in pre Christmas holiday shopping, analysts generally predict that US retailers will enter a busy period in the coming weeks.
Adobe predicts that online shopping sales on Monday (next Monday) may further surpass Black Friday, reaching a record high of $12 billion, more than 6% higher than last year.
Many executives have stated that after two years of consumer spending stimulated by the pandemic, American retailers are now facing more carefully selected consumers. More and more American consumers hope to make purchases at the best prices and are more enthusiastic about searching for these discounts online rather than offline.
The National Retail Federation (NRF) predicts that sales from November to December, excluding inflation, are expected to increase by 3% -4% year-on-year.