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Monday, April 12, 2021

Adobe: Online Black Friday Shopping Is Set To Hit New Record

Black Friday online sales are about to hit a new record high in 2020, due to bargain hunters combing sites for deals while avoiding the stores during this COVID-19, according to data gathered by Adobe Analytics.

On Friday, the online sales are estimated to be in the range of $8.9 billion to $9.6 billion, which is a 20% to 29% increase from the last year, which is dependent on the number of shoppers making purchases in the late night. Around 42% of total sales occurred via smartphones at 4 p.m. (ET), which is an increase of 7% from last year.

Black Friday Sales Events

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This data is based on the sales of a one-day holiday, associated with the purchase of gift items and the shopping excitement of in-store huge lines, mostly online. During the recent surge in the online Black Friday shopping, the U.S. consumers have at least spent $6.2 million/minute on a holiday sales day, Adobe confirmed.

Black Friday
Black Friday

Adobe is estimating Cyber Monday to be the largest sales day online in history, worth around $11.2 billion to $13 billion, which is an increase in year-over-year of 19% – 38% in sales online.

The online sales too made a new record on the day of Thanksgiving, jumping 21.5% and making $5.1 billion, Adobe said. The company examines website transactions of 80 out of the 100 top U.S. retailers online. Around half of all sales occurred via smartphones. Retailers further got a boost regarding online sales if the curbside pickup was offered too. Companies offering a faster alternative of delivering a package to their customer’s homes got a traffic conversion rate of 31% to their sites.

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With retailers initiating holiday sales and putting a few of its deepest discounts on their sites in October, shoppers have further less reason to go over to a store in person on Black Friday. Malls and stores had lesser mortar and brick sales, with emptier parking grounds and free lines than the holiday sales occasions in the past.

Covid cases and pandemic-related restrictions also helped shape behavior. Shoppers tend to buy more gifts online while living in states having Covid-19 restrictions regarding family gatherings. Adobe saw around 3.4 times more year-on-year growth of online shopping in these areas on Thanksgiving day in comparison to the states having fewer restrictions.

Items Causing Surge In Spending On Black Friday

On Black Friday, Video games like Super Mario All-Stars, NBA 2K21, NFL 2, Nerf toys, Hot Wheels, and Star Wars figures were among the best-seller toys. In the category of electronics, air fryers, Apple AirPods and Fire TV of Amazon were bestsellers.

Personal care and toy products were one of the strongest zones for spending, Adobe said. Online spending regarding personal care and toy products shot up 278% and 294% in comparison to daily averages of October. Sales of bedding and office supplies increased by 109% and 114% respectively.

Although spending levels rose for apparel on Thanksgiving day, compared to the daily average retailers viewed in October, the level is still under levels of last year. Sweaters and items of clothing aren’t at the top of the gift lists while many Americans opt for work from house and casual clothing, source – Adobe.

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