Deal-hunting Americans shrugged off sky-high inflation on Black Friday, spending in record-breaking numbers online even as brick-and-mortar stores enjoyed the fading of COVID concerns.
Customers spent $14.42 billion between Thanksgiving and Black Friday — up from a combined $14.04 billion initially projected, according to Adobe Analytics.
Herald Square is pictured jam packed with Black Friday shoppers Friday, Nov. 25, 2022 in Manhattan, New York. (Barry Williams/for New York Daily News)
Online holiday season shopping was projected to rack up $210 billion, up from last year’s $205 billion, which was itself a marked increase from 2020′s $188 billion, Adobe Analytics reported.
Still, the rise did not keep up with an annual inflation rate that was near 8% in October.
Of the $159 billion spent between Oct. 1 and Friday, more than 55% was spent on desktop and other devices, compared to the 45% spent on mobile purchases, according to Adobe.
Shoppers navigate the different sales being offered during Black Friday on Friday Nov. 25, 2022 at Woodfield Mall in Schaumburg, Ill. (Brian Hill/AP)
Digital sales for electronics, toys and clothing have all declined from the start of October to Black Friday, with all three increasing and then dipping by early October, Adobe reported.
Toys suffered the sharpest decline over the past nearly two months.
Shoppers flock to the Huntington Mall for Black Friday deals on Friday, Nov. 25, 2022, in Barboursville, W.Va. (Sholten Singer | The Herald-Dispatch/AP)
Nintendo Switch, Roblox, Paw Patrol, video game “God of War Ragnarök” and Instapots were among this Thanksgiving’s most popular products, with Xbox Series X, Bluey, MacBooks and “Call of Duty: Modern Warfare II” topping sales for Black Friday.