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Black Friday sales dip to $8.9 bn as firms fight battle chip shortage

The famous Black Friday sales last week saw online shopping dip to $8.9 billion this year, falling short of $9 billion that was spent by online consumers last year

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Black Friday sales | US Black Friday | Black Friday

IANS  |  San Francisco 

Photo: Bloomberg
Photo: Bloomberg

The famous sales last week saw online shopping dip to $8.9 billion this year, falling short of $9 billion that was spent by online consumers last year, and the ongoing chip shortage is one of the key reasons behind this.

According to Adobe Analytics, out-of-stock messages have increased by 124 per cent since January last year, making it harder for shoppers to get the products they want, as the world faces acute component shortage and supply chain issues.

Appliances and electronics were affected the most by the chip shortage.

According to a holiday shopping report by Adobe Analytics, the downward trend might've been caused by an uptick in early spending, as some stores started sales and promotions as early as October.

When shoppers did make online purchases during Black Friday, Adobe found that 44.4 per cent of those sales were made from a smartphone, a 10.6 per cent increase from the last year, reports The Verge.

"For the first time ever, saw a reversal of the growth trend of past years," according to Vivek Pandya, the lead analyst at Adobe Digital Insights.

"Shoppers are being strategic in their gift shopping, buying much earlier in the season and being flexible about when they shop to make sure they get the best deals," he added.

Among the most popular tech products sold on were the Nintendo Switch and Meta (formerly Oculus) Quest 2.

--IANS

na/dpb

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, November 29 2021. 11:31 IST
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