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Black Friday Surge: Online Spending Shatters Records
29 Nov
Summary
- Thanksgiving Day online sales hit a record $6.4 billion.
- Online sales peaked earlier on Thanksgiving due to discounts.
- Video game consoles and refrigerators saw massive sales jumps.
This past Thanksgiving Day saw a significant surge in online spending, with shoppers worldwide contributing to record sales figures. In the U.S., online expenditures reached $6.4 billion, surpassing previous years' totals and exceeding initial predictions. A notable shift occurred as peak shopping hours moved to earlier in the day, a trend attributed to the magnitude of discounts offered and the influence of AI in helping consumers find deals.
The strong performance was further boosted by impulse purchases, particularly via mobile devices. Key product categories that experienced exceptional growth included video game consoles, which saw sales rise by 740%, and home appliances like refrigerators, up 720%. This robust spending on Thanksgiving Day sets a strong precedent for the remainder of the Cyber Week sales period.
Looking ahead, projections indicate continued record-breaking activity. Black Friday online sales are expected to reach $11.7 billion, an 8.3% increase, while Cyber Monday is forecast to hit $14.2 billion, up 6.3%. These figures highlight a dynamic and expanding online retail landscape, driven by consumer eagerness for deals and technological advancements in shopping.
