It’s Cyber Monday, but do we even need it anymore? The evolution of Black Friday is kind of making it obsolete . . .
Americans spent a record $9.8 BILLION online on Black Friday this year. That’s a 7.5% increase from 2022, according to Adobe Analytics. They don’t track in-person sales, but Mastercard only saw a 1% bump at physical stores this time.
Just over half of those online purchases were made on phones, which tends to mean lots of impulse buys. So it wasn’t all gifts. We bought plenty of stuff for ourselves too.
Some people got in on deals even if they didn’t have cash on hand. $79 million of those sales came from “Buy Now, Pay Later” plans, up 47% from last year.
People worldwide spent more than $70 billion on Black Friday products. The best-selling categories included electronics, toys, and video games.
Thanksgiving Day is also becoming a popular one for online shopping. Americans bought $5.6 billion worth of stuff online last Thursday, up 5.5% from last year.
