Amid inflation in the US, Black Friday online sales have hit a record $9 billion so far.
With rising inflation in the US and banks adjusting interest rates, there is a perception among investors that a recession is likely. Every year at the end of November, Black Friday sales are held to celebrate Thanksgiving Day. Companies offer deals ranging from smartphones to toys.
Despite the impact of inflation this year, consumer interest has not waned. Although the discount sale started in October, customers traditionally waited for discounts until the big shopping days.
A report released by Adobe Analytics by Adobe Group, which analyzes transactions on websites and measures e-commerce, states:-
$9.12 billion was spent online on the Friday when Black Friday sales began. Online spending increased by 2.3 percent on Black Friday. 85 percent of orders come from the top 100 online sales sites in the US.
We expect sales to rise 1 percent this year. Monday is once again expected to be the biggest online shopping day of the season. This will result in sales of $11.2 billion.
It says so.
After curtailing in-store shopping for the past 2 years due to Covid, customers were expected to visit stores in greater numbers this year, but
Shops were less crowded than usual on Friday due to occasional showers in parts of the US. After this, Americans turned their attention to smartphones for shopping. According to data from Adobe, 48 percent of digital sales are driven by mobile shopping.
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