U.S. consumers spent a record-breaking $10.8 billion online on Black Friday, according to an updated tally from Adobe Analytics cited by Reuters. This year’s Black Friday, traditionally the kickoff to the holiday shopping season, saw a 10.2% increase in online spending compared to the previous year, showcasing the growing preference for digital shopping platforms.
The surge in e-commerce activity underscores the intensified competition among retailers for the dollars of bargain-hunting shoppers. E-commerce behemoths like Amazon.com (AMZN) and Walmart (WMT) have notably capitalized on this trend. Walmart, with its extensive network of 4,700 U.S. stores, has enhanced its store-to-home delivery options to meet the rising demand for online purchases during the holiday rush.
Adobe Analytics, which monitors over 1 trillion visits to U.S. retail sites through its software, highlighted that products like makeup, skincare, haircare, Bluetooth speakers, and espresso machines were among the top sellers online this Black Friday. There was also a significant increase in sales for toys, which rose 622%, jewelry up by 561%, and appliances which saw a 476% spike compared to average daily sales in October.
However, not all retailers are poised to benefit equally from this holiday season. Traditional department store chains like Macy’s and Kohl’s (KSS), along with Target (TGT), might face challenges with a shorter shopping period this year, with only 26 days between Thanksgiving and Christmas. This compressed timeframe could lead to less in-store foot traffic and potentially muted sales for these brick-and-mortar giants.
Separately, Salesforce (CRM) reported a 7% rise in U.S. online sales to $17.5 billion for Black Friday, noting a particular uptick in home appliances and furniture purchases. This data from Salesforce, which tracks consumer behavior across thousands of online retailers, further illustrates the shift towards online shopping, even for traditionally big-ticket items.
The data from both Adobe and Salesforce reflects a broader trend where consumers are increasingly turning to both online and in-store shopping to maximize savings during the holiday season.
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