Black Friday & Cyber Monday 2023 Break Records for Online Shopping

Black Friday and Cyber Monday online sales figures in the United States reached record highs the past week, with sales revenue from online shopping on Black Friday hitting $9.8 billion and sales from Cyber Monday topping $12.4 billion, according to Adobe.

Mobile Purchases Account for Over Half of Online Purchases for Black Friday & Cyber Monday

Per a report from Adobe Digital Insights, the Black Friday online sales figures marked an increase of 7.5% from last year. Per the same report, more than half of the revenue—about $5.3 billion—came from mobile purchases (including smartphones and tablets). The rest of the purchases came from desktop activity.

Adobe’s report didn’t track in-store retail purchases on Black Friday. However, credit card company Mastercard said in a press release that in-store purchases in the U.S. that took place throughout the day were up more than 1% from last year. On the other hand, Mastercard’s analysis shows that eCommerce transactions rose by 8.5% year-over-year.

Buy-Now-Pay-Later Features Helped Drive the Record Online Sales

Adobe noted in its report that flexible spending options such as buy-now-pay-later (BNPL) features contributed to the surge in online transactions by helping consumers combat rising prices. American consumers relied on BNPL features to spend $7.3 billion from November 1st to November 26th, marking an increase of 14% from the same period last year.