Just a few weeks ago, Amazon and some other retailers and marketplaces told Wall Street they weren’t sure what kind of fourth-quarter growth to expect with all the economic uncertainty. But aggregated sales data for Black Friday (November 25, 2022) indicates shoppers are spending, for now.
The following is a roundup of some findings published over the weekend.
- Despite Black Friday promotions beginning earlier than ever this year, retailers saw an 11% increase in day-of Black Friday site traffic, 5% increase in number of orders, and a 1% increase in average order values compared to last year, according to Bluecore. (Bluecore analyzed 729 million shopper events on brands’ ecommerce sites, including shoppers viewing products and completing sales transactions. The resulting data was derived from 91 million first-party cookies and represents interactions with 4 million unique products, 3.2 million orders and $388 million in total sales.)
- Online sales broke a record on Black Friday: $9.12 billion – which was up 2.3% year-over-year, according to Adobe. (Based on one trillion visits to US retail sites, 100 million SKUs, and 18 product categories.)
- US retail sales on Friday were up +12% year-over-year excluding automotive (not adjusted for inflation). In-store sales increased +12% year-over-year, and ecommerce sales experienced sustained growth up +14% year-over-year, according to Mastercard SpendingPulse. (Based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check.)
- Merchants on the Shopify platform saw sales of $3.36 billion on Black Friday, worldwide, a 17% increase in over Black Friday in 2021 (or 19% on a constant currency basis).
So how were shoppers finding those Black Friday deals? Adobe said paid search was the biggest driver of sales for retailers across major marketing channels for the period of November 21 – 24:
- Paid search (30%)
- Organic search (15%)
- Direct (18%)
- Email (17%)
- Social media (less than 5%, but that share was up 32% year-over-year).
Stay tuned for more Thanksgiving-weekend sales data in the coming days.