Nothing Stops Black Friday

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As the team's Capital Markets Analyst, Jacob conducts market and investment research and assists in the development of business strategy to serve clients more effectively.
November 29, 2022
Source: Adobe (2022, November 14). 2022 Holiday Shopping Trends & Insights Report. Adobe Experience Cloud Resource Center. Retrieved November 27, 2022, from https://business.adobe.com/resources/holiday-shopping-report

Despite inflation eating into people’s wallets and financial markets off their highs people still spent a record $9.12 billion on Black Friday (11/25/22), with electronics driving most of the growth.

Sales for Black Friday rose 2.3% from last year’s record highs.

Purchases of electronics soared by 221% compared to an average day in October, smart home items jumped 271%, and audio items jumped 230%.

But this record number comes with a catch that has to do with the times we are living in. Purchases made with the popular new buy now, pay later option jumped 78% when compared to the week before Black Friday, meaning people purchased more Black Friday goods on credit.  

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