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Black Friday 2023 Unveiled: Leveraging Record eCommerce Spending to Grow Your Amazon Brand

The sky’s the limit for Amazon sellers after Black Friday’s $9.8 billion benchmark results. Here’s how to capitalize on the record sales

  • November 27, 2023
  • /
  • Chuck Kessler
Stackshare
An Amazon ad for Black Friday 2023 with the black friday in neon above the Amazon logo.

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Black Friday Breakthroughs: A Dive into the Data

The landscape of online shopping is constantly evolving, and this Black Friday, Americans have not just followed but set new records, redefining the retail peak season. 

Adobe Analytics reports a new milestone with $9.8 billion in online Black Friday sales, a significant 7.5% year-over-year increase. Electronics, smartwatches, TVs, and audio equipment were the stars of the show. This spike follows a 5.5% increase in Thanksgiving Day sales, bringing the total to $5.6 billion.

It’s clear that eCommerce is not just thriving; it’s exploding. For Amazon sellers, these trends aren’t just numbers—they are the playbook for the coming year.

Mobile Shopping and Flexible Financial Solutions Add Fuel to the Fire

The convenience of mobile shopping continues to outpace traditional methods, with 54% of online sales made from mobile devices and a 10.4% increase in mobile purchases from the last year. With Cyber Monday projected to net a record $12 billion, growing 5.4% year-over-year, mobile devices are the front-runner in consumer preference.

At the same time, flexible financial solutions continue to help fuel online sales. As reported by Adobe, the use of Buy Now, Pay Later (BNPL) options surged by 47% on Black Friday, with consumers utilizing BNPL services for purchases amounting to $79 million. 

What Sold Best? The Online Favorites

Children’s toys and gaming consoles were the champions of Black Friday, with KidKraft playsets, Barbie dolls, and gaming consoles like PlayStation 5 and Xbox Series X leading the charge. 

Not far behind were Bluetooth headphones, smartphones, skincare products, cookware, and coffee makers.

Consumer Confidence Extends to In-Store Shopping

According to a Deloitte survey, 95% of Americans plan to holiday shop, with an average spend of $1,652. That number topped pre-pandemic levels for the first time and were up from 92% in 2022 and 88% in 2021, 

In-store traffic also saw a resurgence, with nearly a 5% increase from last year, showcasing the enduring value of brick-and-mortar experiences.

Health and Beauty, Jewelry, and Apparel stores experienced significant in-store visitor increases, while home stores saw a decline. 

The Robust American Consumer and the FOMO Economy

Amazon agencies such as Canopy Management are poised to help sellers capitalize on these trends. With Adobe Analytics predicting that shoppers in the U.S. are on track to spend $12 billion (or more) online over Cyber Monday, it appears that in spite of a slight slow down of the economy, consumers are increasingly opening their wallets and treating themselves a little bit after years of pandemic-era restrictions.

In a LinkedIn post, Laura Meyer, the Founder of Envision Horizons said that her clients were particulary dedicated to mobile shopping with 75% of their traffic coming from smartphones. Her feeling about the strength of the economy was even more interesting. 

Laura said that “the effectiveness of personalized advertising and impactful organic social media is driving an impulsive or FOMO (fear of missing out) economy that consumers simply can’t resist.”

For Amazon agencies, this data isn’t just a retrospective of success; it’s a roadmap for the future. Leveraging personalized advertising, optimizing for mobile, and engaging with consumers through organic social media are not just strategies—they are necessities for capturing the attention and wallets of the modern consumer. 

The data is clear: the opportunity for Amazon sellers to grow and prosper is monumental, and it’s here to stay.

If you would like to know more about how Canopy Management can help you level up your eCommerce brand on Amazon (or Walmart), reach out to us here. 

Canopy Management is a full-service marketing agency for Walmart and Amazon sellers. Our team consists of former Amazonians, multi-million dollar sellers, and award-winning experts.

When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon is much easier “under the Canopy”:

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