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Consumers spent $11.8 billion online on Black Friday, reaching a new sales high for the day and beating Adobe’s initial forecast.
Sales grew 9% year on year on November 28, greater than the 8% rise to $11.7 billion the analytics provider originally anticipated, it said Saturday. In the four hours between 10 a.m. and 2 p.m., shoppers shelled out $12.5 million online every minute.
Mobile purchases are becoming more popular, with 55% of e-commerce sales taking place that way rather than on a desktop, representing $6.5 billion of total sales. That figure is 10% higher than last year, as the method tends to drive more impulse shopping, according to Adobe.
Meanwhile, Thanksgiving Day also saw record spending, with online consumer outlay up 5% to $6.4 billion, just above Adobe’s preholiday guidance.
“Cyber Week is off to a strong start, with online spending on Thanksgiving and Black Friday both coming in above Adobe’s initial forecasts,” said Vivek Pandya, lead analyst for Adobe Digital Insights. “This was driven in large part by competitive deals across categories like electronics, toys and apparel. Discounts are set to remain elevated through Cyber Monday, which we expect will remain the biggest online shopping day of the season and year.”
Adobe believes Cyber Monday will pull in $14.2 billion in online sales, up 6% year on year. Cyber Week, which comprises the five-day period from Thanksgiving to Cyber Monday, is expected to see a 6% year-on-year rise to $43.7 billion, making up 17% of overall spend for the holiday season.
Image: A Black Friday sale in a store. (Shutterstock)
