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Black Friday online sales hit record high as shoppers stay at home

About $79 million of the Black Friday sales came from shoppers opting for the "Buy Now, Pay Later" flexible payment option, which is up 47% from last year.

Published: November 26, 2023 4:39pm

Online shopping sales on Black Friday rose 7.5% this year compared to 2022, hitting a record $9.8 billion in the United States, according to a new report that comes as more consumers choose to stay home. 

Consumers are additionally willing to spend more this year than in 2022, when gas and food prices were higher, according to an Adobe Analytics report, CNBC reported Saturday.

"We’ve seen a very strategic consumer emerge over the past year where they’re really trying to take advantage of these marquee days, so that they can maximize on discounts," lead Adobe Digital Insights analyst Vivek Pandya said.

However, about $79 million of the sales came from shoppers opting for the "Buy Now, Pay Later" flexible payment option, which is up 47% from last year.

Adobe expects the largest bargains to appear on Cyber Monday, and shoppers are projected to spend a record $12 billion that day. The sales are expected to decline later into the holiday season, according to Pandya.

Wealth Consulting Group CEO Jimmy Lee said, "The excitement of waiting in lines on Black Friday – there’s not as much of that anymore. A lot of people …. would rather just sit at home and look for deals," according to The Daily Wire

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