Online Black Friday spending is on track to break a record this year, despite inflation

Core Insights - Adobe reports a record $7.9 billion in online spending on Black Friday, marking an 8.2% increase from the previous year, with final estimates expected to reach between $10.7 billion and $11 billion [1][2][3] Spending Trends - Consumers showed resilience in spending despite inflation concerns, with significant purchases in skin and hair care products, electronics, and appliances [4][5] - Thanksgiving spending also reached a record high of $6.1 billion, up 8.8% from last year, with nearly 60% of sales made via mobile devices [8] Consumer Behavior - Many consumers are cautious due to high credit card debt and inflation, leading to more intentional spending and price comparisons [6] - The use of buy-now-pay-later (BNPL) options is increasing, with expected spending of $711.3 million on Black Friday, a 12.8% rise year-over-year [7] Future Projections - Adobe anticipates $5.2 billion in spending on Saturday, $5.6 billion on Sunday, and $13.2 billion on Cyber Monday, reflecting a 6.1% increase from last year [10] - The company projects a total of $40.6 billion in online spending during Cyber Week and $240.8 billion in total holiday spending [11]