Black Friday (BF) sales continue to attract mass shoppers despite inflation and the Russia-Ukraine conflict driving up the cost of living, according to a new study by Adobe (opens in new tab) and Foreclosure (opens in new tab).
As reported by Diginomica (opens in new tab)physical store sales could rise, with Walmart reporting in the first quarter of 2022 that its e-commerce growth had slowed to just 1%, but economic strains had little impact on Black Friday online sales, with Adobe claiming that Americans would spend $9.12 billion online on Black Friday alone in 2022, a 2.3% increase over 2021.
Salesforce, on the other hand Expectations (opens in new tab) that wages that do not rise with inflation take their toll on the number of products people buy. The current average order is 3.5 items, down 2% from last year. Even so, the average order value is up 0.6% year over year.
International Impact of Black Friday
The company also claims that price fluctuations in the US directly impacted popular gift item categories, with electronic items rising 34% this year and beauty products seeing an average price drop of 15%.
While Adobe’s data exclusively covers spending behavior in the US during the holiday season, Salesforce can provide a global picture that suggests that Black Friday may not have as much appeal internationally.
Global Black Friday sales rose 3% year-on-year in 2022, but parts of Europe were less impressed, as online Black Friday sales in the UK and Ireland fell 13% and the number of orders fell 11%.
Tech Radar Pro lately reportedUK parcel deliveries increased by 8% on Black Friday and 30% on Cyber Monday in 2022, according to delivery management company nShift.
Coupled with the Salesforce data, this appears to be a reversal of the situation in the US, where shoppers are buying more but spending less.
The picture in Europe isn’t quite as clean either, with Salesforce reporting that online sales from Germany are down 12% and the number of orders placed is down 15%.
However, Nshift reported that parcel deliveries increased by 126% in Denmark and 58% in Finland, for example, with several other countries seeing similar increases. Even if revenue data were not available for these countries, it is clear that not every European is willing to forgo a bargain.
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Salesforce found that Australians and New Zealanders felt the same, with sales falling just 1% there while orders placed were up 3%. Japan, meanwhile, saw the largest declines in growth, with online sales down 34% and orders down 17% compared to 2021.
It’s likely that the sparse enthusiasm for Black Friday and Cyber Monday deals outside the US isn’t because the rest of the world has grown bored with imported consumerism, but rather because of a more cautious approach to the unique financial challenges of the Right now, maybe because Thanksgiving is a uniquely American holiday.
Businesses, too, may have decided to organize their tech stack rather than invest in new server infrastructure, for example.
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