Black Friday profits reach record high of USD10.8B
Date
12/2/2024 2:01:27 AM
(MENAFN) According to Adobe Analytics, the U.S. e-commerce data tracker, this Thanksgiving weekend the online shopping increased as Black Friday hit a new record with USD10.8 billion in sales, which is two times more than what was spent in 2017 when profits reached more than USD5 billion.
The record rate of shopping during the Black Friday was the same as online shopping on Thanksgiving itself, as reported by Adobe. People spending on Thanksgiving reached U.S.6.1 billion, which is 9 percent more than last year.
Based on Adobe, the most selling product on Black Friday was toys, which rose to 622 percent in comparison to a normal day this fall. Also, jewelry sales rose by 561 percent. In addition to the appliances that soared by 476 percent and the apparel that increased by 476 percent, and finally the electronics sales hiked by 334 percent.
The most sold toys were Harry Potter LEGO sets, "Wicked" toys, card and board games, Disney Princess dolls, and Cookies Bakery oven play sets. Also the most popular gaming consoles that were sold were the PlayStation 5, Xbox Series X, Nintendo Switch OLED and Meta Quest.
Also, the best-seller products were makeup and skin-care sets, Bluetooth speakers and headphones, smart watches, perfumes as well as espresso machines. But the most selling product for mobile phones that reached more that 55 percent in Black Friday.
In general, most people prefer to buy things online rather that hitting the stores. As per MasterCard, online retails increased by 14.6 percent in comparison to the previous year. On the other hand, in-store sales only increased by 0.7 percent.
In conclusion, both online and in-store sales rose by 3.4 percent only this year, according to MasterCard data.
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