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.