US Black Friday online sales hit $8.6 billion, says Adobe Analytics

(Reuters) -U.S. shoppers spent $8.6 billion online on Black Friday, an Adobe Analytics report showed, as more consumers turned to laptops and phones instead of braving brisk weather to snap up deals during the holiday shopping weekend.

 

Online spending rose 9.4% through 6:30 p.m. ET (1130 GMT) on Black Friday compared with last year, according to Adobe Inc’s data and insights arm, which vets e-commerce transactions, covering more than 1 trillion visits to U.S. retail sites.

 

Consumers were expected to flock to stores, but the bargain-chasing was subdued on post-Thanksgiving morning as shoppers fear overspending amid persistent inflation, trade policy-driven uncertainty, and a soft labor market.

 

However, the data firm expects consumers will spend between $11.7 billion and $11.9 billion on Friday, following a final tally, and said it will set a new record for online sales on Black Friday.

 

It anticipates consumers will spend  $5.5 billion  on Saturday, which represents growth of 3.8% from last year, and $5.9 billion  on Sunday, a rise of 5.4%, as discounts remain elevated.

 

Cyber Monday is expected to be the season’s biggest online shopping day again, Adobe projects, driving $14.2 billion in spending, up 6.3% from last year.

 

Adobe, which earlier forecast Black Friday online sales rising 8.3% to $11.7 billion, last month said it expects U.S holiday online sales to grow at a slower pace this year. 

(Reporting by Neil J Kanatt in Bengaluru; Editing by Arun Koyyur and Chris Reese)