Americans Spent Almost $10 Billion On Black Friday
Everyone waits until Black Friday to score those amazing deals for holiday gifts. But how much is actually spent on the one day? You’ll be shocked to know it’s almost $10 billion dollars, according to research.
Let’s Wake Up Early And Spend Some Money!
Americans spent almost $10 billion dollars online this past Black Friday. It was about $9.8 billion total. Compared to last year, it was about 7.5% more, according to Adobe Analytics, reported on by eCommerce Bytes. In this report, they say Mastercard saw a 1% bump at physical stores this year.
How Were Purchases Made?
If you look at all the online purchases done on black Friday, over half of those purchases were done over our phones, the report says. They say that tends to mean a lot of those purchases were impulse buys. So maybe, many of those purchases were not actually gifts.
Now what if you didn’t have the money? Lots of people take advantage of credit cards or a lot of stores have “Buy Now, Pay Later” options. These payment methods went up by 47% from last year, the report stated.
World Wide Sales Tallies
Americans are not the only ones taking advantage of the great deals on Black Friday. In fact a lot of the world did. People worldwide spent more than $70 billion during Black Friday. The most popular items bought were electronics, toys, and video games, eCommerce Bytes reported.
But people don’t just wait for Black Friday to arrive. A lot of shopping is done on Thanksgiving Day. In fact Thanksgiving Day has grown in popularity for online shopping. According to Newsweek, Americans bought $5.6 billion worth of stuff online last Thursday (Thanksgiving Day). That’s about 5.5% higher than last year.
Is Cyber Monday Even Needed?
While most of the shopping is done on Thanksgiving and Black Friday, a lot of people have missed deals and still want to get in on them. That’s why Cyber Monday became a thing. While Adobe Analytics hasn’t done research on it, people are just as eager to partake in deals, savings and bundles without leaving their home.
We have more on this in today’s edition of a Few Things You Should Know!