Black Friday 2024: A Record-Breaking Online Shopping Spree
Saturday, Nov 30, 2024 10:11 am ET
1min read As the leaves fall and the temperatures drop, one thing remains constant: the annual shopping extravaganza known as Black Friday. This year, the event lived up to its hype as US shoppers spent a staggering $10.8 billion online, a 9.9% increase from the previous year. This article delves into the data and trends that made Black Friday 2024 a record-breaking online shopping spree.
The rise of mobile shopping played a significant role in this year's Black Friday success. With more than half of all online sales generated from mobile devices, consumers seized the opportunity to snag deals and discounts from the convenience of their smartphones. This shift in shopping behavior reflects the growing number of ecommerce shoppers in the US, projected to reach 270.11 million by 2024.
Buy Now, Pay Later (BNPL) services also contributed to the surge in online sales. With $18.5 billion in holiday online spending projected through BNPL, consumers embraced the financial flexibility this option provides. This trend is particularly popular among younger shoppers, who are increasingly turning to alternatives like Afterpay and Klarna to manage their spending.
Electronics, clothing, and toys emerged as the most popular product categories among Black Friday shoppers. Adobe Analytics reports that TVs, sporting goods, furniture, and appliances saw the steepest discounts on Thanksgiving Day, while computers were discounted on Saturday and electronics and clothes on Cyber Monday. Top toys included Legos, Hot Wheels, Barbie, Pokémon trading cards, Tonie and Spider-Man figurines, and slime-making kits, while adult favorites comprised Dyson Airwrap hair-stylers, Bluetooth speakers, fitness trackers, and pickleball paddles.
The success of Black Friday 2024 underscores the enduring appeal of this shopping event for both consumers and retailers. As the holiday season approaches, retailers are expected to offer competitive discounts and promotions to capture a share of the $240.8 billion projected in total holiday sales.
In conclusion, Black Friday 2024 was a record-breaking online shopping spree, driven by mobile shopping trends, the popularity of BNPL services, and consumer demand for electronics, clothing, and toys. As retailers and consumers continue to adapt to the ever-evolving retail landscape, Black Friday remains a crucial event for the holiday shopping season.
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