US online spending is expected to set a record for Black Friday, according to Adobe Analytics, as steep discounts lured consumers against the backdrop of high inflation, kicking off the year’s biggest shopping event on a strong note.
Initial numbers from Adobe Analytics, the data and insights arm of software company Adobe Inc, showed shoppers are expected to spend between US$9 billion and US$9.2 billion (RM40.3 billion and RM41.2 billion) online yesterday, topping its forecast for a modest 1 per cent rise to US$9 billion.
As of 6pm EST (2300 GMT) on Friday, Adobe data showed shoppers spent an estimated US$7.28 billion online.
“E-commerce demand has remained strong regardless, and Black Friday is set to surpass US$9 billion in online sales for the first time, as consumers come to value the ease and convenience of shopping from home,” said Vivek Pandya, lead analyst at Adobe Digital Insights.
Adobe Analytics, which measures e-commerce by tracking transactions at websites, has access to data covering purchases at 85 per cent of the top 100 internet retailers in the United States.
Adobe’s analysis covers over 1 trillion visits to retail websites; Adobe does not disclose the names of the company sites it tracks.
Early holiday deals, including a second Amazon Prime Day event in October, were expected to take some of the shine off the biggest shopping days of the year.
More Americans placed orders through their smartphones over the holiday, with mobile shopping expected to drive 53 per cent of Black Friday online sales. Mobile orders accounted for 55 per cent of online Thanksgiving sales.
Cyber Week, which runs five days from Thanksgiving to Cyber Monday, is expected to generate US$34.8 billion in online spending, up 2.8 per cent from the year-ago period, according to the report.
“As Black Friday discounts transition to being pre-Cyber Monday discounts, we expect online spending momentum to continue through the weekend.” Pandya said. — REUTERS
