Black Friday, a major shopping event in the United States, has traditionally marked the beginning of the peak holiday shopping season. This year's online sales reached a record high, with consumers spending $11. 8 billion online on Black Friday, up 9. 1% year-over-year, according to Adobe Digital Insights (Adobe, 2023). The surge in online sales was driven by competitive deals across categories like electronics, toys, and apparel.
Adobe's data, culled from over 1 trillion visits to U. S. retail sites, also showed that between 10 a. m. and 2 p. m. on Black Friday, online shoppers spent $12. 5 million every minute. The strong online sales figures exceeded Adobe's forecast of 8. 3% e-commerce growth on Black Friday. Vivek Pandya, lead analyst at Adobe Digital Insights, noted that "Cyber Week is off to a strong start, with online spending on Thanksgiving and Black Friday both coming in above Adobe's initial forecasts" (Pandya, 2023). Pandya attributed the success to the competitive deals offered by retailers, which are expected to remain elevated through Cyber Monday. Cyber Monday is anticipated to be the biggest online shopping day of the season and year.
The shift towards e-commerce has significantly impacted the retail industry, with online shopping becoming an increasingly popular choice for consumers. According to a report by the United States Census Bureau, e-commerce sales have grown steadily over the years, accounting for 14. 3% of total retail sales in 2020, up from 11. 6% in 2019 (United States Census Bureau, 2021). This trend is expected to continue, with projections suggesting that e-commerce sales will reach $1. 54 trillion by 2025, representing 19. 2% of total retail sales (Digital Commerce 360, 2022). The rise of e-commerce has also led to changes in consumer behavior, with many shoppers opting for the convenience of online shopping over traditional brick-and-mortar stores. A survey conducted by the National Retail Federation found that 71% of consumers prefer to shop online because of the convenience it offers, while 63% cited the ability to compare prices and find deals as a major advantage (National Retail Federation, 2020). The COVID-19 pandemic has accelerated the adoption of e-commerce, with many consumers turning to online shopping as a way to avoid physical stores and minimize the risk of infection.
Alternative viewpoints and findings: Visit websiteConsumers spent record amounts online on Black Friday, but it is less clear how traditional retail stores did on the official kickoff of the peak ...●●● ●●●
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