Black Friday sales dip to $8.9 bn as firms fight battle chip shortage

The famous Black Friday sales last week saw online shopping dip to $8.9 billion this year, falling short of $9 billion that was spent by online consumers last year, and the ongoing chip shortage is one of the key reasons behind this.

According to Adobe Analytics, out-of-stock messages have increased by 124 per cent since January last year, making it harder for shoppers to get the products they want, as the world faces acute component shortage and supply chain issues.

Appliances and electronics were affected the most by the chip shortage.

According to a holiday shopping report by Adobe Analytics, the downward trend might’ve been caused by an uptick in early spending, as some stores started sales and promotions as early as October.