2023-11-29 04:00:00
Black Friday 2023 saw significant growth in online sales, reaching a record $9.8 billion. This period of massive promotions is increasingly attracting consumers who are looking to take advantage of the best offers for their Christmas shopping or treat themselves to items previously inaccessible due to inflation.
A 7.5% increase in online sales compared to last year
According to the Adobe Analytics report, online sales increased by 7.5% compared to last year, reaching a record $9.8 billion on this single day of massive promotions. The consulting firm measures transactions at 85 of the 100 largest retailers in the United States, across 18 product categories and 100 million items.
The week of Cyber Week, which extends from Thanksgiving to Cyber Monday, is eagerly awaited by consumers who take advantage of the avalanche of discounts to buy their Christmas gifts and/or treat themselves with items they have been coveting for several months but which until now were too expensive due to inflation. Shopping habits are also changing, with Buy Now, Pay Later (BNPL) gaining popularity among customers.
“Throughout the year, we have witnessed the emergence of a very strategic consumer who really seeks to take advantage of these days to optimize their purchases.“, explique Vivek Pandya d’Adobe Digital Insights.
Black Friday breaks a new record: $70.9 billion in sales worldwide.
Still according to Salesforce, French consumers spent 12% more than in 2022 during this Black Friday, with a 3% increase in online orders pic.twitter.com/30p2hgo33u
— Jonathan Chan ???????? (@ChanPerco) November 28, 2023
Impulsive purchases mainly on smartphones
The Adobe Analytics report highlights the role that impulse purchases may have played in sales growth, as $5.3 billion was spent via mobile devices. More and more consumers are using their smartphones to shop online during Black Friday and Cyber Week.
To take the figures in their entirety, here is what comes out:
$70.9 billion: total global sales during Black Friday 2023 according to Salesforce. +7.5%: increase in online sales compared to last year according to Adobe Analytics. Example of reduction observed: –12% for French consumers during this Black Friday compared to 2022.
Record sales: a sign of strength or anticipation?
For Joshua Mahony of Scope Markets, it remains unclear whether the record Black Friday is a sign of overall strength for the fourth quarter or simply an indication that price-conscious consumers are trying to anticipate their purchases to avoid paying full price.
Adobe’s forecasts suggest that sales momentum might peak this Monday for Cyber Monday, with $12 billion in revenue expected. Mastery of market mechanisms, economics and strategy of companies listed on the stock exchange is essential to make the best investments.
French Black Friday growing by 12% compared to 2022
Also in France, Black Friday was a great success, with an increase in spending of 12% compared to the previous year. According to Salesforce, the average French basket was 89.5 euros for around 4 items.
This year, Black Friday exceeded all expectations in terms of online sales in both the United States and France. As inflation continues to affect household purchasing power, this day of massive promotions allows consumers to carry out their Christmas shopping and treat themselves while saving money. It now remains to be seen whether this trend will continue on Cyber Monday and throughout the holiday season.
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