If store floors weren’t scuffed up as much this year, it’s probably because phone screens and keyboards were getting smudged.
Black Friday 2022
According to Adobe, online sales hit a new $9.12B record in the US, beating last-year’s $8.9B record by 2%.
Throwing greens on the black: There are some interesting trends that contributed to this year’s spending spree…
- Mobile sales increased by 48%, which is 4% higher than last year.
- Buy now, pay later increased by 78% compared to the week before.
- Electronic sales went up by 221%, toys by 285%, and exercise equipment by 218% compared to the average sales day.
Adobe says e-commerce activity is expected to remain high during Cyber Monday as well.
Shopify broke records, too, reaching $3.36B in sales worldwide—the most lucrative day in the platform’s history.
Shopify says top selling countries were the US and Canada, confirming predictions that spending would rise in the US while Europe tightened the purse strings.
… But were there actually more sales? Considering that product prices rose by 10% on average, and sales went up by 2%… were fewer items sold this year at higher prices? Was this year’s Black Friday really more successful than last year’s?
The questions remain.
On the other hand, it seems consumers are willing to spend money. Shopify going strong is a good sign for e-commerce brands.
Cyber Monday 2022
Customers keep shopping, records keep breaking. Yep, sounds like the holiday season.
According to Adobe, this year’s Cyber Monday recorded $11.3B in revenue in the US – 5.8% more than the year before, totaling an estimated $210B this season.
All about the discounts
Considering last year’s Black Friday was weaker than the one before, and the current economic situation is… you know, sketchy, the result may be surprising.
But it seems that retailers were able to drive demand and raise confidence with deep discounts.
Electronics prices were reduced by up to 25% and toys by 34% on average, driving more transactions per minute than the previous year, according to TechCrunch.
A Shopifytastic week
Shopify also continued the positive trend from Black Friday, with merchants racking up $7.5B in revenue during Cyber Week—a 19% increase from last year.
Shopify reports 52M shoppers worldwide bought from stores powered by their platform, with a staggering 73% of online sales made on mobile devices!