An online retail renaissance
Did you cop any great deals during Black Friday or Cyber Monday?
In the past week, we saw the world reclaim its pre-pandemic shopping spirit, with Black Friday unleashing a shopping frenzy and smashing records. In the U.S. alone, a jaw-dropping $9.8 billion in online sales on Black Friday saw a 7.5% surge from last year, while Cyber Monday blew the roof off with a staggering $12.4 billion spent online, surging 9.6% from last year, according to Adobe Analytics' estimates.
No doubt, retailers' aggressive discounting strategies paid off, reigniting consumer spending amid economic uncertainties.
But the real shocker? A whopping $70.9 billion in global sales, with 79% happening on mobiles, according to Salesforce. Not even the rising interest rates and global economic headwinds could stop people.
Happy December!
– Emmanuel
