Black Friday e-commerce spending popped 7.5% from a year earlier, reaching a record $9.8 billion in the U.S., according to an Adobe Analytics report, a further indication that price-conscious consumers want to spend on the best deals and are hunting for those deals online.
“We’ve seen a very strategic consumer emerge over the past year where they’re really trying to take advantage of these marquee days, so that they can maximize on discounts,” said Vivek Pandya, a lead analyst at Adobe Digital Insights.
Black Friday’s spending spike reflects a consumer who is more willing to spend than in 2022, when gas and food prices were painfully high.
Pandya noted that impulse purchases may have played a role in the Black Friday growth since $5.3 billion of the online sales came from mobile shopping. He noted that influencers and social media advertising have made it easier for consumers to get comfortable spending on their mobile devices.
Since last year? USD inflation has been 5.1%, so assuming the 7.5% spending increase to $9.8b doesn’t account for inflation, the flat number for 2022 was $9.1b, and adding on an inflation adjustment would mean 2022 spending in 2023 dollars was $9.6b, meaning a 2.1% comparative increase in 2023 dollars. But they don’t link to the study, so I can’t say whether they already accounted for inflation or not.
Ultimately the record $9.8b number may or may not account for inflation, but either way, if it doesn’t, I’m sure that it’s near the peak.
Bigger percentage, more clicks. I’m going to wager they did not use an inflation-adjusted number.
the inflation percentage is for the whole economy but seems low for consumer items like tech and clothing which i’d think is what drives black friday, most of those items are up 100% to 200% which would really make a loss yoy with someone clever trying to promote optimism.