American consumers set a new record for online spending on Black Friday, with a staggering $11.8 billion spent, as reported by Adobe Analytics tracking over 1 trillion visits to U.S. retail websites. This marked a significant increase from the $10.8 billion spent online last Black Friday, indicating a growing trend towards digital shopping experiences.
During the peak hours of 10am to 2pm, online shoppers were reportedly spending an average of $12.5 million every minute, showcasing the immense scale and speed of e-commerce transactions. Data from Adobe highlights Black Friday’s evolution into a prominent e-commerce event, reflecting the shift towards online shopping to seize lucrative deals.
Looking ahead to Cyber Monday on December 1, Adobe projects an even more substantial online spending spree, estimating a massive $14.2 billion to be spent digitally, according to Reuters. These projections hint at the continuous rise of online consumerism and the dominance of digital platforms in shaping retail landscapes.
Moreover, data from tech giants like Adobe and Salesforce not only provide insights into holiday shopping trends but also underscore the escalating influence of AI in shaping consumer behaviors. Salesforce’s findings reveal that AI and AI agents played a significant role in influencing $22 billion in global sales between Thanksgiving and Black Friday, underscoring the pivotal role of artificial intelligence in driving purchasing decisions.
While online shopping surges, the comparison with in-person brick-and-mortar store visits portrays a diversified picture, with varying reports on foot traffic trends. RetailNext suggests a 3.4% decline in in-store traffic nationwide, contrasting with Pass_by’s data indicating an impressive 7.9% surge in department store foot traffic.
Source: TechCrunch