An online retail renaissance

Emmanuel Oyedeji -

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

💡
Read the rest of the newsletter below and follow the rest of our coverage on Techloy.com to gain more insight into technology in emerging markets and the rest of the world.
💡
Please forward this newsletter to your friends, family, and colleagues, and follow @techloy across all social media platforms!