NEW YORK, November 26, 2017 – Black Friday shoppers left their digital mark on the busiest shopping day of the year. Digital sales reached a record $5.03 billion, among the top sellers were Roku and the Nintendo Switch. Cyber Monday sales will be even bigger than Black Friday sales, experts say.
Amazon sales were up, specifically for their Echo and Fire tablets devices, leading Amazon founder Jeff Bezos’s fortune to increase once again.
Predictions are that overall online holiday sales will reach $107 billion, rising more than 13% from last year.
Cyber Monday sales will be record-breaking
According to data from Adobe Digital Insights, which tracks 80% of online spending at America’s 100 largest retail websites, Cyber Monday will be even bigger than Black Friday, bringing in as much as $6 billion in digital sales.
Deal-hungry customers spent as much as $1 million per minute on the Internet at the height of Black Friday, e-commerce platform Shopify said. Adobe says online sales at the 100 largest U.S. Web retailers totaled approximately $7.9 billion on Black Friday and Thanksgiving, marking a nearly 18 percent increase from 2016.
Customers spent a record-high $5 billion on Black Friday alone, nearly doubling the $3.34 billion spent last year, Adobe Analytics said.
Brick-and-mortar retail sales data were not immediately available, but industry analysts noted signs of a decline in physical store sales this year, Reuters reported.
ShopperTrak senior executive Brian Field released a statement on the debate over the decline in in-store retail shopping.
“There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail, and the fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and, when done right, profitable,” Field said.
Brick and Mortar stores vs. Online Black Friday spending
While brick-and-mortar sales may be down, the Mall of America in Minnesota reported that 2,500 people were in line before opening. Shoppers started lining up as early as 5:45 p.m. on Thanksgiving. Mobile sales have become a major sales driver for retailers during the recent shopping period and smartphone sales amounted to 46% of all retail website traffic on Thanksgiving.
Cyber Monday expected to be bigger than Black Friday
Experts believe both days totals will fall once the weekend comes to an end and the public charges head-on into the brick and mortar Christmas shopping season. However, Black Friday’s record $5 billion in online sales reflect consumer confidence is at its highest point. Cyber Monday will be bigger Adobe predicts, Cyber Monday will be the largest American online shopping day in history. As Black Friday winds down, Americans turn their heads towards Small Business Saturday, where companies have created small businesses with the help of loans and are selling their products.