Online Black Friday shopping shattered records in 2024, with spending up 10.2% this year compared to 2023, according to data provided by Adobe Analytics.
Consumers spent a record $10.8 billion online on Friday, which is nearly double what was spent just seven years ago on Black Friday.
How does Black Friday shopping compare to a typical day? Spending on toys was over seven times higher than a typical day, jewelry had over six times the spending, and electronics had more than four times the spending.
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Adobe Analytics said popular toys helped drive a massive increase in toy spending. Top toys sold on Friday include Harry Potter LEGO sets, Wicked toys, card and board games, Disney Princess toys and dolls, and Cookeez Makery oven playset, Adobe Analytics said.
“Crossing the $10 billion mark is a big e-commerce milestone for Black Friday, for a day that in the past was more anchored towards in-store shopping”, said Vivek Pandya, lead analyst, Adobe Digital Insights .“And with consumers getting more comfortable with everything from mobile shopping to chat bots, we have tailwinds that can prop up online growth for Black Friday moving forward.”
Adobe Analytics expects Thanksgiving weekend spending to remain robust. An estimated $5.2 billion is expected to be spent by Americans on Saturday, and $5.6 billion is expected to be spent at online retailers on Sunday.
Cyber Monday is expected to generate $13.2 billion, a 6.1% increase from last year.
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The National Retail Federation expects that 200 million Americans will shop this weekend, nearly 4 million more than a year ago. Online shopping is projected to generate more revenue than in-person.
“The five-day period between Thanksgiving and Cyber Monday represents some of the busiest shopping days of the year and reflects the continued resilience of consumers and strength of the economy,” said NRF President and CEO Matthew Shay. “Shoppers exceeded our expectations with a robust turnout. Retailers large and small were prepared to deliver safe, convenient and affordable shopping experiences with the products and services consumers needed, and at great prices.”
