U.S. Census Bureau<\/a>, retail sales last quarter grew just 2.3% over the same period a year before. E-commerce, as a younger and smaller proportion of that (around 15% of all sales), typically does grow faster and last quarter also grew around 7%. <\/p>\n\u201cBlack Friday online sales performance exceeded any retail executive\u2019s expectations,\u201d said Rob Garf, VP and GM of Retail at Salesforce, in a statement. \u201cRetailers stepped up their discounting game and shoppers, in turn, clicked the buy button.\u201d<\/p>\n
Adobe works with hundreds of large and small online retailers and says that it bases its calculations on more than 1 trillion visits to U.S. retail sites, the movement of some 100 million SKUs and 18 product categories. <\/p>\n
Inflation of just over 3% is definitely down on last year (when it was over 7%) but economic uncertainty does continue to weigh on consumers, so it\u2019s notable that buy now, pay later options, as a complement to other kinds of credit, continued to grow in popularity. Adobe said that orders using BNPL were up by 72% on last year across the week going into Black Friday, and that BNPL revenue as a result of that is up by $79 million for the period. <\/p>\n
The big question will be whether retailers can sustain the growth rate over the next several weeks. The next big barometer-style sales day is Cyber Monday, in two days. We\u2019ll provide more updates when those figures come through. <\/p>\n
Some other notable details from yesterday:<\/p>\n
\u2014 Discounts remain a big driver for sales and are coming in as high as 35% off retail price. The name of the game remains buying presents and home electronics.<\/p>\n
\u2014 Smartphones accounted for $5.3 billion of sales on the day, up a whopping 10.4% on 2022 and representing 54% of all online sales. Adobe predicts that is going to be the norm for the period: mobile sales will actually overtake desktop this holiday season, it said, with more than 51% of sales.<\/p>\n
\u2014 Perhaps because people are still concerned about spend, they are opting for cheaper \u201cstandard\u201d shipping more often than in previous years. (And frankly why get something faster now if it\u2019s for a present for the end of December?) Adobe said 80.5% of all orders used standard shipping. <\/p>\n
\u2014 Adobe thinks \u201cCyber Week\u201d (from Thanksgiving to Cyber Monday) will rack up $37.2 billion in U.S. online sales, nearly 17% of all sales for the holiday period. Salesforce is more bullish: it says it will account for 25% of all holiday purchases this year and will total $53 billion globally.<\/p>\n
\u201cBlack Friday re-asserted its dominance this season with record spend of $9.8 billion driven by new demand for the major sales\u2019 day,\u201d said Vivek Pandya, lead analyst, Adobe Digital Insights, in a statement. \u201cThe decline in online prices over the last year has created a favorable environment for consumers with strong discounts this season that are tempting even the most price conscious consumers.\u201d <\/p>\n<\/p><\/div>\n
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"A rush of deep discounts and the growth of flexible payment options were the drivers behind $9.8 billion in online sales in the U.S. on Black Friday \u2014 a record figure for the day. According to Adobe Analytics, sales were up by 7.5% on last year\u2019s numbers (you can see those here). Sales easily surpassed […]<\/p>\n","protected":false},"author":1,"featured_media":56779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-56778","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/56778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=56778"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/56778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/56779"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=56778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=56778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=56778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}