Black Friday 2023 Shatters Online Sales Records
Online Black Friday sales reached a record level of $9.8 billion, a 7.5% increase from the previous year, according to Adobe Analytics. The decline in online prices and strong discounts contributed to the surge in sales, with purchases of electronics, such as smartwatches, TVs, and audio equipment, leading the way. The popularity of Buy Now Pay Later programs also saw a 20% year-over-year increase, with projected usage of $782 million on Cyber Monday. Overall, online shoppers are expected to spend $37.1 billion during Cyber Week, a 5.4% increase from last year.