U.S. online sales on Black Friday spiked 7.5% from last year as more people chose to shop from the comfort of their homes instead of trekking out into retail stores.
Shoppers spent a record $9.8 billion online on Black Friday, which was bolstered by online deals and discounts, according to Adobe Analytics, CNBC reported. The numbers come after online spending on Thanksgiving day was up 5.5% from 2022, generating $5.6 billion.
“I think people are going to still spend on travel and leisure activities that might be online and not necessarily in stores,” said Jimmy Lee, CEO of The Wealth Consulting Group.
“The excitement of waiting in lines on Black Friday – there’s not as much of that anymore. A lot of people …. would rather just sit at home and look for deals,” Lee added.
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Forbes reported that 52% of U.S. consumers planned to skip Black Friday shopping altogether, and another study found that this year, 68% of consumers were expected to shop online for holiday deals. Also, 66% will hunt for bargains on Cyber Monday.
Online shopping for Black Friday was expected to bring in nearly $10 billion. Retail companies that posted poor earnings reports over the past year hoped the holiday deals would boost their sales and offset the dismal year.
Companies such as Target, Native, Harry’s, Hershey’s, Nike, and Apple are also trying to bring back conservative shoppers, many of whom have called for boycotts after the brands pushed transgenderism onto customers over the past year.