Retail-sector attention on Cyber Monday after record-breaking Black Friday sales
Electronics were the major driver of the increase in sales, with online sales up 221% over the average day in October 2022, according to data on Saturday from Adobe Analytics, which tracks sales on retailers’ websites. Smart home items were up 271% and audio equipment up 230%. Toys remained a strong category as well, up 285%, while exercise equipment rose up 218%.
See: More people use ‘buy now, pay later’ for holiday shopping, but experts say that’s a double-edged sword “As Black Friday hit record spending online, we’re also seeing more prominent signs of a budget-conscious consumer this year,” said Vivek Pandya, lead analyst, Adobe Digital Insights. “Shoppers are embracing the Buy Now Pay Later payment method more this year to be able to buy desired gifts for family and friends.”
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