CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 48)

27 Nov 2023

Black Friday e-commerce spending was up by 7.5% YoY, reaching a record of US$9.8bn in the U.S., according to an Adobe Analytics report, a further indication that price-conscious consumers want to spend on the best deals and are hunting for those deals online. According to CNBC news, shoppers are more price-sensitive and managing tighter budgets due to last year’s record inflation and interest rates. According to the Adobe survey, US$79m of the sales came from consumers who opted for the ‘Buy Now, Pay Later’ flexible payment method to stretch their wallets, up 47% from last year.