Black Friday and Cyber Week sales went up, reaching 9 billion dollars in the USA, beating the dim dark forecast done by many experts.
According to CNBC, consumers spent a record $9.12 billion online shopping during Black Friday this year. This number was released by Adobe, which tracks sales on retailers’ websites.
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Overall online sales for the day after Thanksgiving were up 2.3% year over year, and electronics were a significant contributor, as online sales surged 221% over an average day in October, Adobe said. Toys were another popular category for shoppers, up 285%, as was exercise equipment, up 218%.
Many consumers embraced flexible payment plans on Black Friday as they struggled with high prices and inflation. Buy Now Pay Later payments increased by 78% compared with the past week, beginning Nov. 19, and Buy Now Pay Later revenue is up 81% for the same period.
Shopify, one of the leading global e-commerce platform providers, announced a record-setting Black Friday Cyber Monday weekend, with sales of $7.5 billion* from independent businesses worldwide. That’s a 19% increase in sales from the $6.3 billion during Shopify’s Black Friday Cyber Monday weekend in 2021 (21% on a constant currency basis).
Consumers are approaching this holiday shopping season with intentionality. They’re seeking out good deals from their favorite brands. Shopify’s recent survey of more than 24,000 consumers around the world revealed that three in four (76%) were seeking higher-quality products that will last, and the majority (84%) planned to compare prices for the best discounts before making a purchase during Black Friday Cyber Monday Weekend**.
More than 52 million consumers globally purchased from brands powered by Shopify this year, a 12% increase from 2021. Black Friday Cyber Monday weekend is the highest volume shopping event of the year for Shopify merchants. And, while not a proxy for the full holiday season, it is a moment that showcases the power and impacts independent businesses have around the globe.
“This year, Black Friday Cyber Monday showed us once again that consumers are voting with their wallets to support the independent brands they love,” said Harley Finkelstein, President of Shopify. “We saw record level shopping happening across all channels this weekend, proving businesses that meet their customers where they are, whether that’s online or in-person, will earn their loyalty in return.”
Salesforce has just released new data on Cyber Week, the result of an analysis of shopping data from more than 1.5 billion consumers worldwide. Online sales in 2022 reached an all-time high of more than €270 billion, up 2% from last year.
The data shows that the digital standards set during the pandemic continue to be a force this holiday season, with strong growth in early November, driven by consumers who were not put off by higher prices and lower discounts. Cyber Week (November 23-29) saw sales growth due to these early consumers.
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