Despite high inflation and a rise in prices, consumers' holiday shopping sentiments are upbeat this year.
According to data from Adobe Analytics, consumers spent a record $9.12 billion online shopping during Black Friday.
The analysis found that online spending rose 2.3% on Black Friday, with expectations that Cyber Monday will be the season's biggest online shopping day, driving $11.2 billion in spending.
"Cyber Monday will offer the best deals for computers (27%), as well as furniture (11%). Those looking to buy an appliance should consider waiting until Thursday (Dec. 1), when discounts are set to peak at 18% on average," the report said.
Adobe said that electronic items were a major contributor, as online sales surged 221% over an average day in October.
The toy segment was another popular category for shoppers, up by 285%, while exercise equipment purchases were up 218%.
Other items in demand during this year's Black Friday were gaming consoles, drones, Apple MacBooks, Dyson products, and kids' favorites like Fortnite, Roblox, Bluey, Funko Pop, and Disney Encanto, the report said.
According to the report, mobile shopping represented 48% of all Black Friday digital sales.
Canadian e-commerce firm Shopify Inc (NYSE: SHOP) reported that its Black Friday sales hit a record of $3.36 billion this year, up almost 17% from 2021.
The Adobe data anticipates that the overall spending this holiday season will rise by 2.5% from a year ago.
Photo via Shutterstock.
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