11.27.23
Despite recession fears and war in Central Europe and the Middle East, Black Friday sales beat most analysts' expectations. A record $9.8 billion was spent online the day after Thanksgiving in the US. That's up 7.5% year-over-year (YoY), according to Adobe Analytics. Best-sellers included electronics, smartwatches, TVs and audio equipment. Top Black Friday online purchase categories included KidKraft playsets, Barbie Fashionista dolls and Mini Brands Toys. Gaming remained a popular category, as shoppers snatched up PlayStation5, Xbox Series X, and Nintendo Switch gaming consoles, along with games including Call of Duty: Modern Warfare III, Spiderman 2 and Super Mario Bros. Wonder. Mobile devices accounted for 54% of online sales and will continue to be a consumer-preferred method for online purchases, exceeding revenue from desktop shopping. For Black Friday, online mobile purchases were up 10.4% compared to last year. Cyber Monday is still expected to be the season’s (and year’s) biggest online shopping day, driving a record $12 billion in spend and growing 5.4% YoY, according to Adobe Analytics.
More brave souls opted for an in-store Black Friday experience, too. Retail shopper traffic increased 2.1%, with the Midwest and Northeast showing the strongest traffic trends, up 3.0% and 2.6%, respectively. Categories that showed strong performance of store visits were:
• Health and Beauty, up 13.3%
• Jewelry, up 6.7%
Apparel stores were up 1.9% in shopper visits, while home stores experienced a decline of 7.9%, according to RetailNext data.
The results underscore the fact that consumer spending has continued throughout the year. Overall, holiday season sales are expected to rise 4%, according to the National Retail Federation. Want more good news? The Consumer Price Index showed an increase of 3.2% for all items for the last 12 months for October—less than the 3.7% increase for the 12 months ending September. According to Adobe’s Digital Price Index, e-commerce prices have fallen consecutively for 14 months (down 6% YoY in October).
Globally, Shopify global businesses were up 22% in Black Friday sales. The gains were led by the US, UK and Canada. The top cities were Los Angeles, New York and London. Popular product categories globally included clothing, personal care, jewelry and shoes.
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More brave souls opted for an in-store Black Friday experience, too. Retail shopper traffic increased 2.1%, with the Midwest and Northeast showing the strongest traffic trends, up 3.0% and 2.6%, respectively. Categories that showed strong performance of store visits were:
• Health and Beauty, up 13.3%
• Jewelry, up 6.7%
Apparel stores were up 1.9% in shopper visits, while home stores experienced a decline of 7.9%, according to RetailNext data.
The results underscore the fact that consumer spending has continued throughout the year. Overall, holiday season sales are expected to rise 4%, according to the National Retail Federation. Want more good news? The Consumer Price Index showed an increase of 3.2% for all items for the last 12 months for October—less than the 3.7% increase for the 12 months ending September. According to Adobe’s Digital Price Index, e-commerce prices have fallen consecutively for 14 months (down 6% YoY in October).
Globally, Shopify global businesses were up 22% in Black Friday sales. The gains were led by the US, UK and Canada. The top cities were Los Angeles, New York and London. Popular product categories globally included clothing, personal care, jewelry and shoes.
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