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Black Friday Online Sales Peak With $3.34 Billion

(Credit: Eduardo Munoz Alvarez / Stringer) Consumers took advantage of Black Friday's bargains, with online shoppers outpacing the number of people who actually lined up to avail of the incredible deals. This trend drove online sales to surpass the $3 billion mark, breaking records of sales from previous years.Holiday Shoppers Look For Bargains On Black Friday
November 29
6:00 AM 2016

Black Friday's promise for good bargain always drives consumers to gather, often in chaos, in order to grab the best retail deals. This year, however, showed a shift in this tradition as shoppers seized the advantage of mobile devices.

According Adobe's online shopping data, this year's Black Friday drove over $1 billion in mobile revenue, a first in retail history. This reflected a 33% growth year-over-year (YoY).

The online shopping data for Black Friday and Thanksgiving Day reported than more than $5 billion was spent online by the end of Black Friday, showing a 17.7% increase compared to the same period last year. Black Friday set a new record as it brought in $3.34 billion, a 21.6 growth YoY. Thanksgiving brought in $1.93 billion, 11.5% more than in 2015.

"Mobile is driving the majority of visits to retail websites on Black Friday at 55 percent, while accounting for 36 percent of sales," the report added.

This trend gave large retailers that integrated web bargains into their holiday marketing strategy a boost in their sales.

"Shoppers hit the buy button at unprecedented levels as conversion rates were up nearly a full percent across all devices in the evening hours on Black Friday," said Tamara Gaffney, principal analyst and director, Adobe Digital Insights.

The five best selling toys in this year's Black Friday according to the report were Lego Creator Sets, electronic scooters from Razor, Nerf Guns, DJI Phantom Drones and Barbie Dreamhouse. For electronic products, the top five were Apple iPads, Samsung 4K TVs, Apple MacBook Air, LG TVs and Microsoft Xbox.

The highest price drops were seen for tablets, with an average discount of 25.4%. This was followed by televisions with 23.2%, toys with 15%, and computers with 11.6%.

The figures provided by Adobe were based on aggregated and anonymous data from 22.6 billion visits to retail websites. It measures 80% of all online transactions from the top 100 U.S. retailers.

© 2016 VCPOST, All rights reserved. Do not reproduce without permission.
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