TechCrunch: E-Commerce Hits R...

TechCrunch: E-Commerce Hits Record $9.12B for Black Friday 2022 and $5.33B for Thanksgiving

Nov 29, 2022
TechCrunch: E-Commerce Hits Record $9.12B for Black Friday 2022 and $5.33B for Thanksgiving

(Image Source: Printify)

Analysts and e-commerce leaders have predicted a subdued online Christmas shopping season this year, with sales in the first three weeks of November being practically flat over a year earlier due to a weaker economy, inflation, and more people returning to buying in shops after the COVID-19 outbreak. Although growth has decreased this year after the boom during the pandemic period, initial indications are that the Thanksgiving holiday weekend is more buoyant than predicted.

As reported by Adobe Analytics, Black Friday online sales reached $9.12 billion yesterday, marking the first time that the holiday weekend's total sales topped $9 billion. This is an all-time high for the day and an increase of 2.3% compared to sales numbers from a year ago; it is also slightly better than the pre-day projections Adobe made.

Based on 1.5 billion customers, Salesforce said that online sales topped $8 billion in the U.S. and $40 billion globally at 5 pm ET on Black Friday, with the most discounted items in home appliances, fashion, health and beauty, and luxury handbags.

“Our research shows such a strong association between discount rates and online sales as consumers hang on for the biggest and best deals,” said Salesforce VP & GM of retail Rob Garf. "In today's economy, consumers are looking for the most possible value for their dollar. And businesses responded on Black Friday with the greatest discount rates of the holiday season.”

According to Adobe, Black Friday shoppers were most interested in purchasing toys, video games, and consumer goods. Similarly impressive was the day before Thanksgiving's numbers: $5.29 billion was spent online by consumers. That's up 2.9% from the same time last year and more than the $5.1 billion Adobe had predicted the day before.

Salesforce also pointed out how online sales on Thanksgiving day climbed by 1% to $31 billion, with a 9% increase in the United States alone, reaching $7.5 billion. In addition, mobile devices accounted for 78% of all sales traffic. According to the report, domestic order values averaged $120 while international ones were $105 worldwide.

Source: Black Friday 2022 e-commerce reaches record $9.12B, Thanksgiving $5.3B; BNPL and mobile are big hits

For more exclusive reports, insights, and interviews on the latest updates in e-commerce and logistics, follow us on LinkedIn or join our community as a member.

Share this with your network

Also worth your time