Adobe Sees Up to $9.2 Billion in E-Commerce: Black Friday Update
US retailers experienced what appears to be a muted Black Friday as high inflation and sagging consumer sentiment erode Americans' demand for material goods.
Bloomberg News will be following the latest developments as information becomes available throughout the day. All time stamps reflect the US East Coast.
Adobe Analytics Boosts End-of-Day Sales Estimate (7 p.m.)
Online sales will rise to between $9 billion and $9.2 billion on Black Friday, Adobe Analytics said in an email. That's slightly ahead of the company's earlier projection of $9 billion, which would represent a modest 1% increase from last year. With inflation running at almost 8%, that still means many retailers are losing ground in real terms.
Spending by 6 p.m. Eastern time had totaled $7.28 billion, Adobe said. Hot sellers on Black Friday included Apple Watches and AirPods, smart speakers and televisions, gaming consoles and espresso machines. In toys, Adobe called out Hatchimals, Funko Pop! and Squishmallows as popular items.
For the weekend, Adobe predicts online holiday spending of $4.52 billion on Saturday and $4.99 billion on Sunday. Shoppers can expect discounts of as much as 17% on apparel, 19% on sporting goods and 34% on toys. But would-be computer buyers are better off waiting for Monday, when discounts are expected to peak at 27% from the current level of 17%.
Activity Light at One San Francisco Mall (4:40 p.m.)
At the Stonestown mall in San Francisco, shoppers were few and far between. The Target and Zara stores were mostly empty, and there was no line for the mall's Santa Claus. Uniqlo and Apple were the busiest locations, but they still weren't crowded.
Black Friday Waits Exacerbated by Labor Shortage (4:17 p.m.)
Longer wait times at some US stores on
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