"Even at a time of inflation and economic uncertainty, Americans were ready to spend come Black Friday. U.S. online spending was up 9.1% from last year, according to data from Adobe Analytics. While holiday spending has typically been dominated by traditional e-commerce, live-shopping platforms TikTok Shop and Whatnot also reported record-breaking sales during Black Friday and Cyber Monday."
"On Black Friday, the livestream marketplace Whatnot reported more than $75 million in single-day live sales, tripling last year's total. On average, shoppers bought 40 items per second. One small business in the sports card category sold more than $1 million in a single show. The highest-priced item sold on Black Friday was a sports card box for $80,000."
""The way people shop is changing, and live is leading it," Armand Wilson, VP of categories an expansion, told Fast Company. "People want more than a transaction. They want to connect with sellers, see the product live, and be part of the moment.""
"According to TikTok, its live-shopping feature also "delivered a record-breaking performance" this year. Brands and content creators held more than 760,000 livestreams on the platform, generating 1.6 billion-plus views throughout the Black Friday period. These efforts paid dividends, with this year's livestream sellers experiencing 84% more sales growth than last year's, according to the company."
Americans increased online spending 9.1% year-over-year on Black Friday despite inflation and economic uncertainty. Live-shopping platforms TikTok Shop and Whatnot produced record-breaking sales during Black Friday and Cyber Monday. Whatnot reported more than $75 million in single-day live sales, tripling last year's total, with shoppers buying 40 items per second. A sports-card seller exceeded $1 million in a single show and the top Black Friday sale was an $80,000 sports card box. Whatnot saw 20 million minutes per week of livestream content and fourfold growth in first-time buyers, while TikTok livestreams drove major views and seller growth.
Read at Fast Company
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