Black Friday 2023: Online Spending Hits Record $11.8B - Adobe

Black Friday Online Spending Reaches New Heights

According to data compiled by Adobe Analytics, American consumers allocated $11.8 billion to online purchases on Black Friday. This figure is based on tracking exceeding 1 trillion visits to U.S. retail websites.

This represents a record amount, surpassing the $10.8 billion spent during the same period last year, as reported by Adobe. A peak in online activity occurred between 10 a.m. and 2 p.m., with shoppers reportedly spending $12.5 million per minute.

E-commerce Dominance and Cyber Monday Projections

Forbes highlighted Adobe’s statement indicating Black Friday’s evolution into a significant e-commerce event. Increasing numbers of consumers are choosing to shop from home to capitalize on available discounts.

Looking ahead, projections from Reuters suggest that Cyber Monday, scheduled for December 1st, will surpass Black Friday’s figures. An estimated $14.2 billion is anticipated to be spent online on Cyber Monday.

Broader Holiday Spending Trends

Data released by companies such as Adobe and Salesforce serves as an initial gauge of overall holiday shopping patterns. Adobe forecasts total holiday spending to reach $253.4 billion this year.

This projection is an increase compared to the $241.1 billion recorded in 2024.

Salesforce Insights: Growth Amidst Price Increases

Salesforce reported tracking $79 billion in global Black Friday spending, with $18 billion originating from the United States. These figures represent year-over-year growth of 6% and 3%, respectively.

However, Salesforce suggests this growth may be attributable to rising prices rather than heightened consumer demand. Data indicates an average price increase of 7%, coupled with a 1% decrease in order volumes.

The Rising Influence of Artificial Intelligence

Both Adobe and Salesforce are observing a growing impact of AI on holiday shopping behaviors.

Salesforce reported that AI and AI-powered agents influenced $22 billion in global sales between Thanksgiving and Black Friday, although the scope of this influence remains somewhat undefined.

In-Store Traffic: Conflicting Reports

The comparison between online and in-person shopping trends remains unclear. RetailNext reported a nationwide decline of 3.4% in in-store traffic.

Conversely, Pass_by indicated an overall increase in foot traffic of 1.17%, with a more substantial 7.9% rise observed in department stores.

These differing reports suggest a nuanced shift in consumer shopping preferences.