What people spent on
According to data from Adobe Analytics, electronics purchases were the main driver of sales in the US, which rose 152% in October compared to the daily average. Among the most popular categories of online purchases were toys with game consoles. Other top sellers included Bluetooth headsets, smartphones, skin care products, cookware sets and coffee makers. Brick and mortar store traffic also increased, specifically by 2 to 5 percent compared to 2022. The health and beauty section was the most popular in stores, which saw a 13.3 percent increase over last year, and jewelry, which saw a 6.7 percent increase over the same period . On the contrary, sales of stores with household goods fell by 7.9 percent.
Comparison with last year
The Black Friday shopping season was more successful for US retailers in 2023 than in 2022. E-commerce sales rose 8.5% year over year in a single day (Friday). The good results can be attributed mainly to the lower rate of inflation in the US compared to last year, as well as solid employment growth. Consumers have shown that they are willing to spend, but they have adjusted their spending behavior and are now much more selective. Up to 54% of total online sales were purchases via mobile phone. Compared to last year, this method of purchase saw an increase of 10.4 percent. Last year, consumers were more cautious about spending, no doubt influenced by economists weighing whether the US might slip into recession.
Global data
According to data from Salesforce, digital sales worth $298 billion were recorded worldwide for all days of "cyber week" (specifically, November 21-27), which is 6% more than last year. Attendance increased by 5 percent compared to the previous year. Looking at local data, it can be seen that online sales grew by 8 percent year-on-year worldwide, in the US by 9 percent, and in Europe by 8 percent during Black Friday alone.
The impact of Black Friday on the markets
Of course, the volume of sales during Black Friday has a much wider impact than just retail sales. Good sales figures can signal to investors that it will be a strong shopping season, as "Black Friday" usually kicks off the holiday shopping season. The good numbers are also reflected positively in the shares of those companies that record increased sales. Of course, it should be kept in mind that other economic influences and especially the overall health of specific companies that investors want to focus on in the long term also need to be taken into account. Black Friday, and with it the Christmas shopping season, only have a relatively short-term effect.
Olívia Lacenová, chief analyst at Wonderinterest Trading Ltd.
