Black Friday 2024 Breaks Records with $10.8 Billion in Online Sales, Adobe Reports
Online shoppers in the United States spent an unprecedented $10.8 billion (RM48 billion) during this year’s Black Friday sales, fueled in part by the rising adoption of artificial intelligence tools, according to Adobe Analytics.
This figure represents a 10.2% increase compared to Black Friday 2023, setting a new benchmark for e-commerce.
Popular categories during the post-Thanksgiving shopping frenzy included toys, jewelry, home appliances, skincare and haircare items, clothing, and electronic gadgets.
Reaching the $10 billion milestone signifies a shift in consumer behavior, with Black Friday—a traditionally in-store shopping event—steadily moving into the digital realm, said Vivek Pandya, an analyst at Adobe Digital Insights.
The surge in spending was attributed to growing demand rather than price hikes, Adobe noted. In fact, electronic product prices have been consistently dropping, with a 2.9% decline in October 2024 compared to the previous year. This marks 26 consecutive months of decreasing prices for electronics.
AI-Driven Shopping on the Rise
Artificial intelligence played a pivotal role in this year’s sales boom. Websites leveraging AI to enhance the shopping experience saw an astounding 1,800% surge in traffic compared to last year’s Black Friday, according to Adobe’s analysis.
Consumers used AI tools not only to uncover the best discounts but also to streamline their searches for specific items and receive personalized product suggestions, an Adobe survey revealed.
Looking Ahead to Cyber Monday
Black Friday traditionally kicks off the holiday shopping season in the U.S., and the momentum is expected to continue. Adobe forecasts additional online spending of $5.2 billion on Saturday and $5.6 billion on Sunday. Cyber Monday is projected to reach a record $13.2 billion in sales, marking a 6.1% increase over 2023.
The transition from physical to digital shopping is evident, with consumers increasingly relying on technology to optimize their holiday purchases.
