Black Friday 2024 broke online shopping records, with Americans spending $10.8 billion, marking a 10.2% increase from last year, according to Adobe Analytics. These results continue the record-setting trend kicked off by the addition of “Buy Now, Pay Later” plans at major retailers in 2023, which led American shoppers to spend $9.8 billion online during Black Friday weekend,
This surge is attributed to consumer comfort with mobile shopping and significant online deals, though in-store shopping appeared subdued with fewer discounts and competitive prices.
Learn more about the all-new VT News and subscribe today!
Retail stocks like Apple, Amazon, and Walmart saw gains, reflecting positive consumer spending trends.
Despite some disappointment with in-store deals, the overall holiday shopping season is projected to generate $990 billion, with Black Friday being a major contributor.
Cyber Monday is expected to see even higher sales, with anticipated revenues of $13.2 billion.
Add comment