it's cyber monday and those sales for the online shopping
day expected to break another record this year. A
new report from adobe analytics says that spending is going
to hit$11.2 billion this year. That's big.
That is a 5.2% increase from last year. That
is inflation weary shoppers are hunting for those deals and
bargains. This is after sales fell 1.4% in 2021
. Target Macy's best buy and walmart all touting major
sales today as black friday online shopping set the tone
for the season. Shoppers spent a record$9.12 billion
online this past friday and that's a jump of 2.3%
in online spending compared to a year ago. And
this is growing trend as a buy now pay later
, trend continues shoppers using apps like Larnaca and after
pay to pay for purchases in installments purchases on those
apps rose 78% week over week. I think the
one step that stood out to me the most on
black friday last week was almost half of the sales
for 48% of them Chloe done on mobile phones.
People just sitting around at home on black friday not
conversing with their relatives and instead just shopping instead.
I thought that was so incredibly surprising baker and what's
also interesting is you know that there was such a
surge in online shopping interesting if not surprising. I
think we were heading in a direction where there would
be a lot of online shopping and now, you
know post pandemic, we've kind of been forced in
this situation. There's a lot of predictions that,
you know, shopping trends are kind of going to
return to normal, you know, last year.
Part of the reason that we saw a dip in
black friday numbers is because retailers spread out those deals
across a number of weeks and days to encourage shoppers
to kind of spend over an extended period of time
, but this year they're kind of going all in
once again on those big one day sales, black
friday cyber monday. However, what's not, it
seems returning is people are not so much wanting to
go back to shop brick and mortar in person and
I'm not surprised, you know, think about those
lines, people getting in fights in stores on black
friday, it's not something that I've ever wanted to
be involved with. I know a lot of people
are probably feeling the same way Chloe those videos and
visuals of us growing up seeing those black friday fights
and people getting up at three o'clock to go save
$40 on a toaster. Those are bygone era.
Those are never gonna happen again at three o'clock in
the morning on thanksgiving. I'm still recovering from PTSD
is still to this day