U.S. sees record Black Friday online sales
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 27 November 2023
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Monday, November 27th. I'm Julie Morgan. |
| 0:12.0 | Record Black Friday sales. Tesla is having union problems |
| 0:16.2 | in Sweden and fathom digital manufacturing gets an offer from Core Industrial Fund. |
| 0:22.1 | Black Friday online shoppers in from Core Industrial Fund. |
| 0:23.0 | Black Friday Online shoppers in the US spent a record $9.8 billion, |
| 0:28.0 | according to Adobe Analytics. |
| 0:30.0 | That's up 7.5% from a year ago. |
| 0:33.0 | The record spending, which was widely expected, was driven by shoppers, |
| 0:37.0 | hunting for the best deals online, |
| 0:39.0 | amid deep discounts and flexible payment options. |
| 0:42.0 | The top selling categories were smart watches. discounts and flexible payment options. |
| 0:42.5 | The top selling categories were smart watches, TVs, and gaming. |
| 0:47.6 | Consumers also spent more through Buy Now Pay Later options. |
| 0:51.6 | Of the total Black Friday online sales |
| 0:54.0 | $79 million came from shoppers who opted for buy now pay later options that's |
| 0:59.6 | up 47% year over year. As for Thanksgiving, online spending rose 5.5% year over year |
| 1:07.3 | to a record 5.6 billion dollars, |
| 1:10.0 | nearly double the amount seen in 2017. |
| 1:13.2 | Adobe Analytics expects Cyber Monday to be this year's biggest online shopping day at $12 billion |
| 1:19.8 | up 6.1% year over year. |
| 1:22.6 | However, Adobe says spending will likely taper off deeper into the holiday season as discounts fade. |
... |
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