To hunt for the best deals, consumers used AI this Black Friday. Adobe Analytics revealed this interesting fact on Saturday. With the help of promotion and enticing price reductions online shops were able to draw in a huge number of consumers which led to almost 11 billion dollars worth of online shopping. The figure represents a 10.2 percent increase from the 2023 Black Friday according to Adobe Inc.
The bulk of the shopping spree took place on e-commerce platforms. They contributed almost 14% more than the previous year. But the number is pretty grim for in-store purchases. Mastercard SpendingPulse provided data that indicates a mere 0.7% increase for the in store purchases during Black Friday.
So it’s evident that the online shopping trend bears down its claw once again during Black Friday. The trend will continue into the holiday season. We will see a sharp increase in e-commerce sales during that period of time.
The $11 billion indicates a rising demand rather than any other causes. People are more keen on spending when they get a good deal. Among the top of the list are Amazon, Walmart, Temu, Shein and PDD. Only Walmart operates physical stores in a large quantity among these top contenders. But Walmart is able to sell more with their easy home delivery process.
Besides electronic items, skincare products, makeup and espresso machines are one of the few examples that have made it to the list as top demanding products. Salesforce concurs with the Adobe data stating a 7% increase in online sales that has a rough value of $17 billion.
High amounts of sales are possible because people feel they are getting a good deal. We see a huge increase in AI usage to select the best product for purchase. 20 times more people used AI this year to hunt down good deals compared to last year.
With the continuous promotion and buying fever from the consumer side, the consumer sales figure will reach a new height. An estimated $12 billion of sales is expected in just two days and Cyber Monday will be the big attraction. This special day will have a projected sales figure of $15 billion. Subsequently we might see an almost $40 billion dollar sales figure in total over the 5 day period.