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US Black Friday online sales hit record $9 billion despite high inflation

Online spending rose 2.3 percent on Black Friday, Adobe Inc's data and insights arm Adobe Analytics said, thanks to consumers holding out for discounts until the traditionally big shopping days, despite deals starting as early as October

November 27, 2022 / 06:33 AM IST

US shoppers spent a record $9.12 billion online this Black Friday, a report showed on Saturday, as consumers weathered the squeeze from high inflation and grabbed steep discounts on everything from smartphones to toys.

Online spending rose 2.3 percent on Black Friday, Adobe Inc's data and insights arm Adobe Analytics said, thanks to consumers holding out for discounts until the traditionally big shopping days, despite deals starting as early as October.

Adobe Analytics, which measures e-commerce by analysing transactions at websites, has access to data covering purchases at 85 percent of the top 100 internet retailers in the United States. It had forecast Black Friday sales to rise a modest 1 percent.

Adobe expects Cyber Monday to be the season's biggest online shopping day again, driving $11.2 billion in spend.