Shoppers spend $7.4 billion online during Black Friday sales

Shoppers holding bags from retail stores walk by discount Black Friday signs in Herald Square on Black Friday in New York City on Friday, November 29, 2019. Online retailers were the big winners Friday, bringing $7.4 billion in sales, but while some traditional retailers have struggled to adapt to customers' shifting preferences, others' stocks have surged this year. Photo by John Angelillo/UPI

Dec. 1 (UPI) — Black Friday shoppers spent $7.4 billion online Friday and $4.2 billion on Thanksgiving day, making it the second largest Internet shopping day ever, according to data compiled by Adobe Analytics. Receipts for Friday trail only last year’s Cyber Monday record-setting $7.9 billion in sales.

According to Adobe, online sales are up about 20% from last year, suggesting shoppers are getting more comfortable making large purchases online. And they’re more comfortable ordering from mobile devices: just under half, or $2.9 billion, of Friday’s sales were purchases made using smart phones.

As of 9 a.m. Eastern Time Saturday, the small-business promotion Small Business Saturday had already pulled in $470 million in online spending. Adobe projects $9.4 billion in online sales on Monday during Cyber Monday promotions.

Retail sales at traditional brick-and-mortar stores are expected to grow 2% percent and 6% in December, according to an IBM analysis. Some large retailers have struggled this year, with shares at Kohl’s, Gap and Macy’s down 25% or more to date, but others have successfully weathered customers’ increased preference for online shopping. Target’s stock has risen by 95% and Walmart’s is up about 30%.

Customers are increasingly likely to buy items online and pick them up in the store, according to Adobe’s data, which says such transactions are up 43.2%.

Adobe Analytics measures transactions from 80 top U.S. online retailers.


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