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.

HOLIDAY SALES FLAT AT $64.5B, RETAILERS FORCED TO OFFER DEALS

Consumer using credit card for online purchase

Consumers will spend between $9 billion and $9.2 billion on Black Friday, setting a new record. (iStock / iStock)

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." 

BLACK FRIDAY TAKING A BACK SEAT TO SMALL BUSINESS SATURDAY THIS YEAR

shopping

A new survey from Bankrate found more holiday shoppers plan to hit up Small Business Saturday than Black Friday this year. (Ricardo Ramirez Buxeda/Orlando Sentinel/Tribune News Service via Getty Images / Getty Images)

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%.

Online shopping using smartphone

A shopper making a purchase on a smartphone. (iStock / iStock)

If you are looking for a computer, it is advised to wait until Cyber Monday, when discounts are expected to peak at 27%.

CLICK HERE TO READ MORE ON FOX BUSINESS

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.