On Black Friday, U.S. shoppers spent about $10.8 billion online, using devices like mobile phones, laptops, desktops, and others, according to Adobe Analytics’ updated report.
Black Friday, which comes the day after Thanksgiving in the U.S., marks the beginning of the holiday shopping season. Retailers are competing hard to attract shoppers looking for discounts.
With more people shopping online, big e-commerce companies like Amazon and Walmart stand to benefit. Walmart, which has 4,700 stores in the U.S., has invested a lot in improving its store-to-home delivery services for the holiday season to boost online sales.
According to Adobe, online spending on Black Friday increased by 10.2% compared to previous years. In 2023, U.S. shoppers spent $9.8 billion online on Black Friday, up from $9.1 billion in 2022.
Low Inflation, High Living Costs: Essentials Surge
Although inflation is around 2%, the Consumer Price Index has increased by 22% since January 2020. Essential costs have surged significantly, with cereal up by 30%, electricity rising by 32%, and car insurance jumping by 52%. This highlights the ongoing strain of high living costs despite low inflation rates.
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