Record-Breaking Black Friday: Online Sales Soar to $9.8B in the U.S., $70.9B Globally

Black Friday 2023 marked a historic milestone as online sales surged to a record-breaking $9.8 billion in the U.S. and an astonishing $70.9 billion globally, fueled by irresistible discounts and the rise of flexible payment options. The remarkable figures, up by 7.5% from the previous year, surpassed expectations, providing a glimmer of holiday cheer for retailers in a market experiencing overall sluggish growth.

Key Highlights:

  1. Surpassing Expectations: The U.S. online sales on Black Friday exceeded forecasts, reaching $9.8 billion, with Salesforce reporting a total of $16.4 billion in the U.S. and $70.9 billion globally. Notably, 79% of all shopping activities occurred on mobile handsets, underlining the growing significance of mobile commerce.
  2. Bellwether for Retail: Black Friday, traditionally a crucial day signaling the start of the holiday sales period, delivered surprising results amid concerns of sluggish growth in the retail sector. The figures defied expectations, injecting optimism into the retail landscape.
  3. Buy Now, Pay Later (BNPL) Rise: Despite economic uncertainty, BNPL options gained popularity, with Adobe reporting a 72% increase in BNPL orders compared to the previous year. BNPL revenue saw a significant uptick of $79 million during the Black Friday week.
  4. Discount-Driven Sales: Discounts played a pivotal role, with savings reaching as high as 35% off retail prices. Consumers gravitated towards purchasing presents and home electronics, driving the robust sales performance.
  5. Mobile Commerce Dominance: Smartphones accounted for $5.3 billion in sales, marking a substantial 10.4% increase from 2022 and representing 54% of all online sales. Adobe predicts that mobile sales will continue to outpace desktop sales throughout the holiday season.
  6. Shipping Preferences: With a focus on cost-conscious spending, consumers opted for more affordable “standard” shipping options. Adobe revealed that 80.5% of all orders utilized standard shipping during Black Friday.

As Black Friday sets a new spending record, the spotlight shifts to the sustainability of this growth in the coming weeks. With Cyber Monday on the horizon, retailers anticipate continued momentum. Discounts, mobile commerce dominance, and the allure of flexible payment options are shaping consumer behavior, creating an optimistic outlook for Cyber Week and the holiday shopping season. #BlackFriday #OnlineSales #RetailRecord #HolidayShopping

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