Black Friday, Cyber Monday sales hit record numbers

Black Friday Cyber Monday shopping overview: 

• Who: Black Friday and Cyber Monday online shopping sales increased by 2.3% and 5.3% year-over-year to reach a non-inflation adjusted record $9.12 billion and $11.3 billion, respectively.
• Why: A record 196.7 million people shopped online over the holiday weekend, according to the National Retail Federation. 
• Where: Nationwide. 

Online Black Friday sales in the U.S. increased by 2.3% this year while exceeding $9.12 billion in total sales, a new record, according to data compiled by Adobe Analytics. 

The largest boost in sales came from the electronics, toys, exercise equipment, and smart home equipment sectors, according to Adobe, which said some of the growth could be attributed to higher prices, rather than the amount of transactions, reports CNN.

Adobe reportedly confirmed, however, that the amount would still have exceeded last year even if inflation had been factored into the total, something the firm says its figures are not adjusted for. 

Buy Now, Pay Later installment plans, meanwhile, increased by around 80% compared to the week before Black Friday, according to Adobe, reports CNN. 

Cyber Monday sales increase 5.3% to reach record $11.3 billion

Cyber Monday sales also set records this year, with sales reportedly increasing 5.3% from last year to reach a total of $11.3 billion, according to Adobe, which had predicted prior to the event that online sales would remain strong. 

In total, consumers spent $35.4 billion shopping online over the five-day period between Thanksgiving and Cyber Monday, with sales reaching $5.3 billion on the November holiday and a combined $9.6 billion on Saturday and Sunday, reports the Washington Post. 

The final figures were reached by a record-number of online shoppers, with a total of 196.7 million people reportedly completing online transactions over the holiday weekend, according to the National Retail Federation. 

Mastercard revealed in its SpendingPulse report released prior to Black Friday that it expected consumers to spend less during this holiday shopping season due to weariness about rising inflation. 

Did you do any online shopping on Black Friday or Cyber Monday? Let us know in the comments! 

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