This year's Black Friday U.S. retail sales increased 12% compared to a year ago, falling short of Mastercard's expectation of 15% growth.

One retail analyst called in-store traffic a "bit underwhelming," according to a Yahoo Finance report.

As of Thanksgiving, U.S. consumers had spent $96.42 billion online, a 2.1% increase compared to the same time frame in 2021, according to Adobe data.

Adobe reported online consumers spent $9.12 billion in e-commerce transactions on Black Friday, and the Black Friday weekend spend increased 4.4% compared to last year.

In terms of smartphone-based shopping nearly half of the online sales were done via the mobile device, according to a USA Today report citing Adobe's 2022 Holiday Shopping Trends and Insights Report.

"As Black Friday hit record spending online, we're also seeing more prominent signs of a budget-conscious consumer this year," Vivek Pandya, lead analyst for Adobe Digital Insights, said in a statement. "Shoppers are embracing the Buy Now Pay Later payment method more this year to be able to buy desired gifts for family and friends."

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