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Key Takeaways from Black Friday 2024
- Record Spending: On Black Friday 2024, record $10.8 billion in U.S. online sales (up 10.2%) and $74.4 billion globally (up 5%).
- Mobile Dominance: Mobile devices made up 55% of sales, totaling $5.9 billion.
- Big Discounts: Toys, electronics, and TVs saw markdowns up to 27.8%.
- Chatbot Use Soars: Chatbot-driven shopping traffic rose 1,800%, with 20% of U.S. shoppers using them.
- Peak Activity: Spending hit $11.3 million per minute during peak hours.
- Evolving Trends: Mobile and AI tools are transforming holiday shopping habits.
A New Milestone for E-Commerce
Black Friday 2024 broke records with consumers spending more online than ever before. In the U.S., shoppers spent an estimated $10.8 billion online, according to Adobe, a 10.2% increase compared to last year’s $9.8 billion. Salesforce reported an even higher figure of $17.5 billion, reflecting a 7% year-on-year growth. Globally, Salesforce recorded a record $74.4 billion in online sales, up 5% from 2023.
Mobile Shopping and Big Discounts
Mobile devices dominated Black Friday purchases, contributing 55% of all online sales, or $5.9 billion—a 12.1% increase from last year. Discounts played a crucial role, with toys marked down by 27.8%, electronics by 27.4%, and TVs by 24.2%, enticing shoppers to kick off their holiday buying early.
The Rise of Chatbots
Generative AI chatbots emerged as a major shopping tool, with Adobe noting an 1,800% increase in chatbot-driven traffic to retail sites. A survey of U.S. shoppers revealed that 20% used chatbots to find deals and get recommendations, marking a shift in how consumers interact with retailers online.
Shopping Peaks and Future Growth
At the height of the day—between 10 a.m. and 2 p.m. EST—shoppers spent at a rate of $11.3 million per minute. Vivek Pandya, lead analyst at Adobe Digital Insights, highlighted the significance of the milestone, noting that mobile and AI-driven shopping experiences are reshaping how consumers shop.
Why It Matters
Black Friday remains a critical moment for the holiday shopping season, with retailers closely watching trends to gauge consumer behavior. This year’s results emphasize the growing preference for online shopping and the potential of new technologies like chatbots to further transform the retail landscape.
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