New data shows sharp growth in US sales in the Black Friday last hours
Klarna has unveiled that from 9 am to 11 pm PST / 12 am to 2 am ET on November 27, sales increased more than 2,000% over the average US shopping day.
Also, the new statistics show the most popular product categories amid generations. This indicates that first of all, American buyers were focusing on electronics and shopping in the markets during Black Friday.
Children’s products’ share of wallet rose 16% across all generations on Black Friday compared to an average day during the Q3. This growth was especially pronounced among Millennials (up 24%) and Gen Xers (up 4%), as many parents focused on buying holiday gifts for their kids.
As to food and beverage, their share of wallet increased by 9% on Black Friday across all generations compared with an average day, indicating consumers were eager to stock up early due to pandemic concerns. Gen Xers and Millennials shifted their spending towards this category, increasing their share of wallet on these items by 65% and 13%, respectively, compared to the average shopping day.
Besides, Gen Zers and Gen Xers shifted their spending away from the health and beauty category, decreasing their share of wallet spent on these items by 16% and 18%, respectively, compared to the average day in the previous quarter. However, Baby Boomers increased their share of wallet spent on this category by 11%.
At the same time, home and garden were less of a priority for shoppers across all generations during Black Friday, which registered a 27% drop in the share of wallet on Black Friday compared to the average day during the third quarter.
We’ve reported that 93% of Millennials have stayed in their city of residence since the start of the pandemic, while 37% are thinking of moving away in 2021.