$9.12 billion spent in a day: New Black Friday online spending record set in 2022, report says
Online shoppers didn’t let concerns about higher prices or a recession keep them from a record-setting Black Friday.
Consumers spent a record $9.12 billion while online shopping Friday, according to Adobe Analytics, which tracks more than 85% of the top 100 U.S. online retailers. That’s an increase of 2.3% over a year ago – surpassing the previous online Black Friday sales high mark of $9.03 billion in 2020.
Nearly half (48%) of online sales were made over smartphones, up from 44% last year, according to the company’s 2022 Holiday Shopping Trends & Insights Report.
More shoppers have taken advantage of “buy now pay later” services, with orders Nov. 19-25 up 78% compared to the previous week, the report said.
“As Black Friday hit record spending online, we’re also seeing more prominent signs of a budget-conscious consumer this year,” said Vivek Pandya, lead analyst for Adobe Digital Insights, in a statement. “Shoppers are embracing the Buy Now Pay Later payment method more this year to be able to buy desired gifts for family and friends.”