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Black Friday 2022: Mixed Growth as Inflation Dampens Consumer Sentiment

Inflation cast a shadow over Black Friday, but sales still surged online and in-store. Top categories and countries led the way, with Amazon and Shopify merchants seeing record-breaking results.

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In this picture we can see a store here, we can see racks here, there are some bakery items present...
In this picture we can see a store here, we can see racks here, there are some bakery items present here, we can see lights at the top of the picture, there are some boards here, there is the ceiling here, at the bottom there is floor, we can see price tags here.

Black Friday 2022: Mixed Growth as Inflation Dampens Consumer Sentiment

Black Friday 2022 witnessed a blend of growth and challenges, with online and in-store 'black friday deals' rising but consumer sentiment dampened by inflation. The event, a key shopping day, drew customers to both physical and digital stores, with top categories and countries driving sales.

The top product categories this 'black friday' were apparel & accessories, health & beauty, and home & garden. Meanwhile, foot traffic increased, with enclosed malls seeing a 1.2% rise and non-malls up by 4.7% compared to last year. The United States, United Kingdom, and Canada were the top selling countries.

Despite the growth, inflation and sagging consumer sentiment led to relatively muted sales in the US. However, online sales rose 2.3% to $9.12 billion. Notably, 'consumer cellular' achieved the highest revenue, with a turnover of 15 billion euros. Shopify merchants also saw success, with a 27% growth in POS sales globally and record-breaking sales of $3.36 billion from 'black friday'. In-store visits to brick-and-mortar retailers increased by 2.9% compared to 2021, showing a balanced approach to shopping this year. Additionally, buy now, pay later (BNPL) orders jumped 78% and revenues rose 81% the week of November 19. Peak sales per minute reached an impressive $3.5 million USD on 'black friday' at 12:01 PM EST.

'Black friday' 2022 brought a mix of positive and challenging trends, with increased sales and traffic but also muted consumer sentiment due to inflation. Top categories, countries, and platforms drove growth, while both online and in-store shopping saw gains. As the holiday season continues, retailers will hope to build on these trends and adapt to evolving consumer behaviors.

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