Black Friday Shoppers Set Online Spending Record on Back of Electronics, Smartwatches, TVs: Adobe | Tech News

Black Friday Shoppers Set Online Spending Record on Back of Electronics, Smartwatches, TVs: Adobe

Black Friday shoppers have created an online spending record, Adobe Analytics reported, offering a positive sign for retailers.

By:BLOOMBERG
| Updated on: Nov 26 2023, 09:15 IST
iPhone 15 sale: Check Croma, Amazon, Flipkart and other offers
Black Friday sale
1/5 Apple unveiled its new iPhone 15 lineup on September 12, 2023, at the launch event. The lineup has four new models: iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max. The pre-booking of these iPhones has begun from September 15 and it will go on sale from September 22.  (Apple)
Black Friday sale
2/5 iPhone 15 deals on Amazon: The pre-order for all the iPhone 15 models has started on Amazon. The e-commerce website is offering flat Rs.5000 instant discount on HDFC Bank credit and debit card transactions on a minimum purchase value of Rs. 65940. The iPhone 15 base models will start from Rs.79900 and the Pro models will begin from 134900. (REUTERS)
Black Friday sale
3/5 iPhone 15 deals on Croma: Croma offers online as well as in-store deals for iPhone 15 buyers. Buyers can pre-book the new iPhone 15 series at just Rs.2000. Buyers can get a Rs. 5000 benefit on the iPhone 15 and iPhone 15 Plus and Rs. 4000 on the iPhone 15 Pro and iPhone 15 Pro Max models by using their HDFC Bank credit card. They can also get Rs.6000 off by trading-in their old smartphone. Additionally, there is no cost EMI for up to 24 months. (Apple)
Black Friday sale
4/5 iPhone 15 deals on Flipkart: The pre-booking price of the standard iPhone 15 models start from Rs.89900. On EMI transactions with a Kotak Bank credit card, buyers can enjoy an immediate 10% discount. HDFC Bank credit card users can avail a generous Rs. 5,000 discount. You can also exchange your old smartphone for a new iPhone 15 and get up to 51000 off depending on the condition of your phone. (Photo by Nic Coury / AFP) (AFP)
Black Friday sale
5/5 iPhone 15 deals on Vijay Sales: The electronic retail store is also offering bank offers while pre-booking any of the iPhone 15 models. Buyers can get a Rs. 4000 immediate discount on HDFC Bank Credit card. They are also offering a 7.5% instant discount up to Rs.7500 on HSBC Credit Card EMI.  (AP)
Black Friday sale
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Demand for electronics, smartwatches, TVs and audio equipment helped boost the day’s online sales by 7.5% compared with last year. (Pexels)

 At a whopping $9.8 bn, Black Friday shoppers have created an online spending record, Adobe Analytics reported, offering a positive sign for retailers facing lackluster sales forecasts for the holiday season.

Demand for electronics, smartwatches, TVs and audio equipment helped boost the day's online sales by 7.5% compared with last year. Consumers extended their budgets by leaning on buy-now, pay-later options, which climbed by 72% from the week before Thanksgiving.

The uptick marks a recovery from last year's holiday season, when high inflation hit consumers' pockets and retailers discounted heavily to get rid of bloated inventory. This year, holiday shopping is a bellwether for US consumer resilience as pandemic-era savings dwindle and interest rates remain at a more than 20-year high.

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US online sales grew 9% year-on-year in a separate Salesforce Inc. gauge, driven by footwear, sporting goods, health, and beauty. Clothing, home, and beauty showed the biggest discounts.

Online sales for the days leading up to Cyber Monday on Nov. 27 can give companies an early sense of holiday-season performance as they await slower brick-and-mortar data. Yet initial forecasts for November and December point to dismal sales growth. 

In the US, Salesforce predicted online sales would grow 1% during that period compared to 2022, the slowest pace in at least five years. Adobe expects revenue to grow 4.8%, far behind the pre-pandemic average annual rate of 13%. The two companies analyze different transactions, which accounts for the variation in numbers. 

Canada-based e-commerce marketplace Shopify Inc. said global Black Friday sales rose 22%, led by clothing, personal care, and jewelry. 

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First Published Date: 26 Nov, 06:14 IST
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