BLACK FRIDAY SALES SORTA SET RECORD
Written by Peter Boykin on November 28, 2022
Shared By Peter Boykin – American Political Commentator / Citizen Journalist
BLACK FRIDAY SALES [SORTA] SET RECORD
Remember the days when Black Friday was all about lining up in the cold, fighting your way through shoppers to grab a coveted Christmas gift..?
The times they are a-changin’…
Black Friday online sales topped $9.12 billion this year – an all-time high for the annual event, according to Adobe, which tracks sales on retail websites.
The details: 2022 sales were up 2.3% over last year’s spending.
Leading the way were:
📺 Electronics: +221%
🧸 Toys: +285%
🏋️♀️ Exercise equipment: +218%
The top purchases were gaming consoles, drones, Apple MacBooks, Dyson products, and toys like Fortnite, Roblox, Bluey, Funko Pop!, and Disney Encanto.
The biggest shift in buying this year happened on our phones with 48% of purchases being made on mobile devices.
Here’s the caveat: Due to inflation, the cost of everything we’re buying is up. So while overall sales are up, the amount of goods purchased is not.
Bad signs for the economy: There was a 78% jump in consumers using “buy now pay later” payment plans, which suggests that people have less money on hand to spend.
[Warning from G: These payment plans are a new trend you’ve probably seen when you check out online. The catch is they usually have super-high interest rates if you don’t make your payments in the agreed-upon time frame.]
Today is Cyber Monday. We’ll check in on how consumers spend today, later in the week.
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