Published: Mon, December 02, 2019
Markets | By Otis Pena

Shoppers spend $7.4 billion online during Black Friday sales

Shoppers spend $7.4 billion online during Black Friday sales

Cyber Monday is now a marketing term which is used by online retailers across the globe to drive online sales. However, it is increasingly turning into a day when shoppers do not necessarily flock to stores but spend heavily online.

Salesforce, meanwhile, said that its checks revealed $7.2 billion in sales (even further off the forecast).

Online sales on "Small Business Saturday" amounted to $3.6 billion, up 18 percent over a year ago.

Friday was also the largest day for mobile shopping with $2.9 billion in sales coming from smartphones. Federation Internationale de Football Association 20, Madden 20, and the Nintendo Switch rounded out the top five.

Internet purchases are expected to reach $9.4 billion, a jump of almost 19 percent over last year's record-setting $7.9 billion take, according to a Sunday estimate from the company, which measures transactions from 80 of the 100 largest U.S. online retailers.

The most popular electronics were Apple laptops, AirPods and Samsung TVs. Such sales surged 43.2 per cent on Black Friday from a year ago, according to Adobe.

One of the reasons we may be seeing slightly less fervent sales than the analysts had predicted is because the holiday sales season is starting earlier and earlier. Another important trend is that the growth of retail e-commerce, clocked at 14.1 percent, is growing faster than retail sales, which are at 4.0 percent overall.

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This year's Black Friday shaped up to be the biggest yet.

"What all of this really boils down to is the customer journey has changed, now it can start anywhere online, in-store and end anywhere ... and it is about making sure the customer makes the purchase and stays loyal to the brands more than where it happens", he said.

As with the Thanksgiving sales patterns - when bigger retailers also appeared to do better than their smaller counterparts - there are a couple of reasons for this.

"A huge number of retailers are getting in on the act, much more than ever before, and I think possibly it's provided a much needed boost for the sector before Christmas".

It will be interesting to see how and if patterns change for smaller retailers on Sunday, which is being dubbed "small business Sunday" to focus on buying from smaller and independent shops.

Last year Paymark data showed Kiwis spent $219 million on Black Friday alone, significantly - almost a third - more than they spent the previous week.

Analysts at Adobe predict that Cyber Monday sales will hit $9.4 billion by close of business on Dec 2., setting a new online shopping record in the United States.

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