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Black Friday frenzy generates record $9.1 billion in online sales - report

Stock Markets Nov 28, 2022 05:58

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By Senad Karaahmetovic

According to Adobe, Black Friday online sales exceeded $9 billion this year to set a new record. U.S. Consumers spent $9.12 billion shopping online, an increase of 2.3% year-over-year (YoY).

A strong online shopping activity was led by robust demand for electronics, toys, and exercise equipment, Adobe stated. Consumers were also interested in Buy Now Pay Later services as payments increased by 78% compared to the previous week.

As far as most popular single items are concerned, consumers were mostly looking for gaming consoles, drones, Apple (NASDAQ:AAPL) Macbooks, Dyson products, as well as popular toys.

The record Black Friday weekend comes after a very strong day of Thanksgiving shopping, which saw sales rise 2.9% YoY to $5.29 billion.

Adobe expects shopping activity to remain strong with Cyber Monday expected to generate $11.2 billion in sales.

Black Friday frenzy generates record $9.1 billion in online sales - report

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