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Online spending reduced for the first time on Black Friday

Online spending reduced for the first time on Black Friday

Online sales declined slightly this year during Black Friday, marking the first time that spending has dropped compared to last year, as noted in a holiday shopping report by Adobe Analytics. Online shoppers reportedly spent a total of $8.9 billion this year, slightly less than the $9 billion spent in 2020.

Adobe suggests that the declining trend may be due to increased initial spending, as some stores began selling and promoting in early October. And when shoppers shopped online during Black Friday, Adobe found that 44.4 percent of those sales came from smartphones, up 10.6 percent from the previous year.

"For the first time, Black Friday reversed the growth trend of previous years," said Vivek Pandya, principal analyst at Adobe Digital Insights. "Buyers are being strategic in their gift shopping, shopping very early in the season and being flexible when they shop to make sure they get the best deals."

Although early sales may have been the main factor behind the decline, global supply chain issues could be another contributor. According to a report by Adobe, out-of-stock messages have increased by 124 percent since January 2020, making it harder for shoppers to get the products they want. Appliances and electronics have been affected the most, the report said, and that ongoing chip shortages may have had something to do with it.

The most popular tech products on Black Friday were the Nintendo Switch and Meta (formerly Oculus) Quest 2, while Just Dance 2022, Spider-Man: Miles Morales, AirPods, the 10.2-inch iPad were all hits on Saturday. So far this entire holiday season, shoppers have spent more than $3 billion in 19 days. Around this time last year, Adobe only counted five days where spending exceeded $3 billion.

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