US breaks record for online spending on Black Friday

Despite high inflation, the U.S.’s biggest shopping event of the year, Black Friday, has broken records for online spending. Online spending in the U.S. is expected to break records for Black Friday, the biggest shopping event of the year, as consumers are drawn to steep discounts amid high inflation, according to Adobe Analytics. Early figures from Adobe Analytics, the data and insights arm of software company Adobe, show shoppers are expected to spend between $9 billion and $9.2 billion online on Friday. “Despite all that, e-commerce demand remains strong, and as consumers begin to value the ease and convenience of shopping from home, ‘Black Friday’ is set to surpass $9 billion in online sales for the first time,” said Vivek Pandya, principal analyst at Adobe.