VIDEO: Black Friday Could Overtake Cyber Monday For Online’s Biggest Shopping Day
By Fox Business // November 29, 2016
over $1 billion in mobile sales
ABOVE VIDEO: HSN CEO Mindy Grossman breaks down the growth of online consumerism.
(FOX BUSINESS) – Pumpkin-pie fueled deal seekers drove online Black Friday sales up double-digits this year, and while consumers are still hitting the web for the latest deals, the day-after-Thanksgiving bargain bonanza could overtake Cyber Monday as the biggest online shopping day of the year.
On Friday, online shoppers shelled out $3.34 billion, representing a 21.6% surge from a year ago, according to Adobe Digital Insights (ADBE). That total far outpaced expectations for $3.05 billion, and is nipping at the heels of the $3.36 billion expectation for Cyber Monday sales.
The Black Friday surge was helped by Millennials who said they preferred to shop that day than on Monday, and from a burst in late-night traffic from customers who increased their buying by nearly a full percentage point, according to Tamara Gaffney, principal research analyst at Adobe.
“That created two new records: The biggest online shopping day so far, and over $1 billion in mobile sales. It was a bit unexpected,” Gaffney said. “More people a week ago said they’d buy on Cyber Monday than Black Friday, but maybe they changed their minds after they saw the deals on offer.”
