Black Friday Spending Surges, Shoppers Buy Fewer Items

2022 Black Friday saw a record-breaking $11.8 billion in online spending, a 9.1% increase from last year, with shoppers spending $12.5 million every minute between 10 AM and 2 PM. Thanksgiving Day also saw strong online sales of $6.4 billion, with popular categories including video game consoles, electronics, and home appliances. AI and social media advertising influenced consumer choices, while in-store traffic fell 3.6%. Despite fewer items per transaction, average selling prices rose 7%, indicating more expensive purchases. Cyber Monday is expected to set another record at $14.2 billion, with more shoppers using buy now, pay later options amidst economic uncertainties.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.