Black Friday online spending surged to a record $8.6 billion on November 24, 2023, according to preliminary data from adobe Analytics, marking the largest online shopping day in U.S. history. The figure represents a 7.5% increase compared to the $8.0 billion spent on Black Friday 2022.
This unprecedented level of digital spending underscores a continuing shift in consumer behavior, with more shoppers opting to bypass crowded stores in favor of the convenience of online deals. The surge impacts retailers of all sizes, requiring robust digital infrastructure and effective online marketing strategies to capture consumer attention. Analysts predict this trend will continue to shape the retail landscape,demanding ongoing investment in e-commerce capabilities and personalized shopping experiences.
Adobe’s data reveals that consumers benefited from meaningful discounts,with electronics,apparel,and appliances experiencing the steepest price reductions. The average discount reached 31%, up from 29% last year. Mobile shopping accounted for a substantial portion of sales, with smartphones driving $3.5 billion in revenue - a 10% year-over-year increase.
Throughout November, online spending has consistently exceeded expectations, totaling $118.0 billion, a 7.3% increase from the same period last year. Cyber Monday is anticipated to remain a significant shopping day, with forecasts predicting between $11.8 billion and $12.5 billion in online sales. The holiday season’s success hinges on retailers’ ability to manage inventory, fulfill orders efficiently, and navigate potential supply chain disruptions.
