Black Friday Sales Soar to Record High of $9.8 Billion as Online Shopping Dominates

Black Friday Sales Soar to Record High of $9.8 Billion as Online Shopping Dominates

November 28, 2023 : Black Friday, the traditional kick-off to the holiday shopping season, continued its shift towards online shopping in 2023, with U.S. consumers spending a record $9.8 billion online, a 7.5% increase from last year, according to Adobe Analytics. This marks the second consecutive year that Black Friday online sales have surpassed $9 billion, reflecting consumers’ growing preference for online shopping.

Adobe Analytics, which tracks online shopping trends for 80 of the top 100 U.S. online retailers, reported that mobile shopping significantly drove Black Friday sales, accounting for $5.3 billion, or 54%, of total online spending. This represents a 10% increase from last year’s mobile shopping share.

The top-selling categories on Black Friday were electronics, toys, gaming, and apparel. Smartwatches, televisions, gaming consoles, and toys were among the most popular online items.

“Black Friday is no longer just a shopping day; it’s a shopping season,” said Vivek Pandya, lead analyst at Adobe Digital Insights. “Retailers are spreading their deals over a longer period, and consumers are responding by shopping earlier and online.”

The strong Black Friday sales performance is a positive sign for the holiday shopping season, which is expected to be another record-breaker this year. Adobe Analytics forecasts that total holiday online spending will reach $910.1 billion, up 5.5% from last year.

The record-high Black Friday online sales figures underscore the continued shift towards e-commerce in the retail industry. Consumers increasingly shop online for convenience, wider selection, and better deals.

The growth of mobile shopping is another notable trend, as consumers increasingly use their smartphones to browse and purchase items online. Retailers are adapting to this trend by optimizing their websites and apps for mobile devices.

The strong Black Friday sales performance bodes well for the holiday shopping season, suggesting that consumers are confident and willing to spend this year. Retailers must maintain momentum by offering attractive deals and ensuring a seamless shopping experience across all channels.

Black Friday 2023 marked a new chapter in the evolution of holiday shopping, with online sales reaching unprecedented heights and mobile shopping playing an increasingly dominant role. As the holiday season progresses, retailers must capitalize on these trends to capture a significant share of consumer spending.