The figures for the American shopping holiday are in, and according to Adobe Analytics Data, revenue is looking good for retailers.
Consumers in the US reportedly spent $6.22 billion on Black Friday sales, up 23.6 percent on 2017 ($5.03 billion). According to Adobe Analytics, $3.7 billion of this can be attributed to online sales. Like last year, mobile shoppers were also out in their hoards, with mobile commerce generating $2 billion in sales on Black Friday, as well as $1 billion the day before, with shoppers jumping online to grab an early-bird bargain on Thanksgiving Day itself.
Another trend to emerge over the Black Friday shopping weekend was a 73 percent surge in the popularity of click-and-collect orders, with consumers purchasing goods online on Thursday and Friday and then picking them up from their local stores. This comes as Adobe reports that prices on Thanksgiving Day were as low as they were on Black Friday, making the annual Turkey Day the fastest growing sales day of the year, with sales up by 28 percent from 2017.
But, Thursday and Friday weren’t the only big shopping days over the weekend. A number of businesses are running their sales from Black Friday right through to Cyber Monday, leading to consumers spending a whopping $400 million online before 10 am on Saturday morning, with Adobe predicting sales from Saturday will reach as much as $3 billion in web sales alone.
Consumers are also growing more comfortable purchasing big-ticket items online, with the average basket size on Black Friday sitting at $146, representing a year-on-year growth of 8.5 percent.
The 2018 holiday season has already been a profitable one for retailers, especially in the e-commerce realm, with online sales between November 1 and November 24 reportedly reaching $44.2 billion, a 19.2 percent increase from last year.
Black Friday in Australia
The popularity of Black Friday in Australia is also increasing, with big-box retailers like Amazon, eBay, Kogan and Catch.com.au all offering huge online discounts. With 37 percent of shoppers saying they planned to shop on Black Friday in the lead up to the event, while 57 percent of Aussie consumers said they would shop both online and in-store, retailers were preparing for a busy day of sales.
Retailers like David Jones were quick to cash in on the growing popularity of Black Friday in Australia, offering $300 off its Dyson Hot+Cool Link, with further discounts available on everything from small appliances and audio and tech accessories to bed and bath products and Christmas decorations.
Figures for the Australian arm of the shopping event are yet to be released, but Power Retail will keep you updated as more news comes in.