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US Black Friday Hits A Record High Despite Inflation

Nov 26 (Reuters) – U.S. shoppers spent a record $9.12 billion online this Black Friday, a report showed on Saturday, as consumers weathered the squeeze from high inflation and grabbed steep discounts on everything from smartphones to toys.

Adobe Inc.’s (ADBE.O) data and insights arm Adobe Analytics said that online spending went up 2.3% on Black Friday. This was because people waited for discounts until the traditionally big shopping days, even though deals had been going on since October.

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Adobe Analytics measures e-commerce by looking at transactions on websites. It has access to information about purchases made at 85% of the top 100 online stores in the US.

It thought that Black Friday sales would go up by only 1%.

Adobe thinks that Cyber Monday will again be the biggest online shopping day of the season, with $11.2 billion spent.

After the pandemic put a damper on in-store shopping for the past two years, people were expected to flood stores. However, Black Friday morning saw less people than usual in stores because it rained in some parts of the country.

Americans used their smartphones to shop for the holidays. According to data from Adobe, 48% of all digital sales on Black Friday were made on smartphones.

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