Black Friday heads for online sales record
Cyber Week, the five days from Thanksgiving Day through Cyber Monday are expected to generate $34.8 billion in online sales
Online sales for Black Friday aim to set a record as receipts get totaled.
Consumers spent $7.28 billion up through 6:00 pm ET on Friday, according to Adobe Analytics.
When the final tally is in, consumers will spend between $9 billion and $9.2 billion for the day, and set a new record.
Tech gifts have been very popular. Among the top sellers are Apple Watches, Apple AirPods, smart speakers, smart televisions and digital cameras.
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Shoppers spent $5.3 billion online on Thanksgiving Day, up 2.9% from the holiday last year and setting a record with smartphones accounting for 55% of online sales, up from 51% last year.
Toys are also hot items, driven by discounts as high as 33%.
The category has also seen a 176% increase in online sales compared to the average daily sales in October.
"Some shoppers are returning to physical stores for Black Friday, after two years where pandemic-related anxieties kept many people at home," said Vivek Pandya, lead analyst, Adobe Digital Insights. "E-commerce demand has remained strong regardless, and Black Friday is set to surpass $9 billion in online sales for the first time, as consumers come to value the ease and convenience of shopping from home."
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Shoppers and retailers got a jump on the season with early deals in October getting consumers to spend over $72 billion online.
Looking ahead to the weekend, consumers are expected to spend $4.52 billion on Saturday, which is also Small Business Saturday.
Estimates are for $4.99 billion for Sunday.
Retailers are using discounts to get shopper's attention with toy discounts around 34%, sporting goods 19% and apparel 17%.
If you are looking for a computer, it is advised to wait until Cyber Monday, when discounts are expected to peak at 27%.
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Adobe expects the five days from Thanksgiving Day through Cyber Monday to generate $34.8 billion in online spend, up 2.8% year-over-year.