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Black Friday Sales Rise but Contrarians Hold Back

Nov. 25, 2022– As the retail spend is tallied for Black Friday (and the overall retail sales stretch from Halloween to Cyber Monday), Business Insider looks at contrarian efforts to shun the hype and redirect the focus to supporting employees and charities. REI was among the first to take the big step in 2015, giving employees a paid day off and encouraging them to get outside and enjoy the day. See why IKEA, Patagonia, Google, and others bucked the trend for 2022.

Here’s a round up of Black Friday results and what’s ahead for the rest of the shopping season:

Black Friday Sets Record for 2022

An analysis by Adobe Analytics notes that online Black Friday sales in the U.S. hit a record-breaking $9.12 billion this year, despite shifting economic conditions and some consumers’ concerns about scaling back on expenses. This year’s sales were 2.3% higher than last year. Among the key growth sectors were electronics, smart home equipment, toys and exercise equipment.

On a cautionary note, CNN notes that consumers are tapping into their savings to pay for goods and boosting their credit card balances in the process. Check out this CNN story for more.

And, here’s a look at the winners and losers, courtesy of Retail Dive.

Getty Images photo.

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