Business

Black Friday Online Shopping Sales Hit Highest Mark Ever

Online sales during Thanksgiving and Black Friday hit its highest mark ever, showing that some shoppers prefer to stay at home away from the rowdy crowds.

Cyber Monday, the marketing term representing a day of online shopping deals, is anticipated to garner American retailers $6.6 billion, according to one estimate from Adobe Analytics, says Reuters.

U.S. retailers reportedly collected $7.9 billion in online sales Thursday and Friday, which is a surge of 17.9 percent in comparison to a year ago. Forty percent of purchases made online during Black Friday were through a mobile device, an increase of 29 percent from 2016.

The substantial uptick is not very surprising and represents a growing embrace and utilization of e-commerce services. It coincides with Amazon’s growth as well. In fact, the tech conglomerate’s growth may directly fuel the increase in online sales.

And Amazon’s growth — as well as the record online sales in general — can be represented by its founder Jeff Bezos’ swelling affluence. The Amazon founder briefly eclipsed the $100 billion net worth mark Friday due to an uptick in the company’s stock price. (RELATED: Walmart Purchases Same-Day Delivery Startup To Keep Pace With Amazon)

But it wasn’t just Amazon. More traditional retailers put a lot of time and money into modifying and upgrading their respective websites so consumers could purchase delivery orders in bulk, according to Reuters.

Despite all of this, in-store traffic, like at brick and mortar locations, only fell 1 percent, defying predictions that online shopping would be a huge hit to traditional shopping.

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