Online shoppers spend record $9.8 billion this Black Friday

According to Adobe Analytics, Black Friday brought in $9.8 billion in U.S. online sales, a 7.5% increase from the previous year.

Transcript

00:00 I'm JD Durkin reporting from the New York Stock Exchange and here is a look at what

00:03 we are watching on the street today.

00:05 Wall Street is on pace to wrap up its best month in over a year after four straight weeks

00:10 of gains.

00:11 The winning streak comes despite indications that the Fed may need to keep interest rates

00:15 higher for longer.

00:16 This week investors will be paying close attention to further comments from Fed officials, key

00:21 inflation data, and jobless claims out on Thursday.

00:24 Meanwhile, if you shopped online this Black Friday, you contributed to the highest online

00:29 Black Friday sales on record.

00:31 According to Adobe Analytics, shoppers spent a record $9.8 billion on Friday, up 7.5% from

00:38 2022.

00:39 The surge in spending comes at a time when inflation is still high, but is down over

00:44 50% from this time last year.

00:46 The report found that the best-selling categories were electronics, toys, and gaming.

00:51 But consumers are still price-conscious.

00:54 According to the report, $79 million of the sales came from shoppers who opted for the

00:59 popular "buy now, pay later" option, a 47% increase from 2022.

01:05 And of course, the shopping isn't exactly over just yet.

01:07 Adobe predicts that Cyber Monday will bring in $12 billion and that the five-day period

01:13 between Thanksgiving to Cyber Monday will rake in $37.2 billion, up over 5% from 2022.

01:20 That will do it for your daily briefing.

01:24 I'm JD Dirken.

01:26 I'll see you next time.

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