Online Black Friday Sales Top $9 Billion

Online Black Friday sales broke a new record in the United States this year with $9.12 billion despite inflation. According to Adobe, online sales were up 2.3% since last year. 

Adobe also tracked the sales for Thanksgiving Day shopping and concluded Americans spent $5.29 billion online, an all-time high. 

Sales started on the holiday and carried on through the weekend and will lead up to the biggest online shopping day, Cyber Monday. This year, according to Adobe’s predictions, Cyber Monday sales are expected to hit $11.2 billion, up 5.1% from last year. 

A factor contributing to the record-breaking Black Friday sales amid inflation is flexible payment plans. According to CNBC, “Buy Now Pay Later payments increased by 78% compared with the past week, beginning Nov. 19, and Buy Now Pay Later revenue is up 81% for the same period.”

Additionally, many chains are offering more discounts than usual to get rid of overstocked merchandise and to bring in more shoppers that are searching for a deal.