The most awaited retail event of the year is here, and Black Friday has had promising numbers, early morning of Friday. Data reveals that holiday shoppers have already charted more than $600 million in Black Friday online sales tallied by 9 am ET, according to Adobe Analytics.
The firm said that the number is growing exponentially, and it’s on its way to finishing with $7.4 billion in sales.
The day before Black Friday, which is Thanksgiving day, cash registers are ringing with e-commerce sales hitting $4.2 billion, a 14.5% increase from 2018, and the first time digital sales on Thanksgiving exceeded $4 billion.
Data also shows that for big retail brands, those who exceed the $1 billion annual revenue threshold, this year’s Thanksgiving day has seen a 244% increase in sales. Adobe Analytics says that the data proves that it is “an indication that large retailers are offering great mobile shopping experiences.”
Many analysts said that this year’s Black Friday Sale has seen lesser people lining up in front of stores as online shopping has become a more prominent and popular method of buying stuff.
One of the main issues surrounding this year’s Black Friday is that shoppers are worried that the tariff imposed by the U.S. Government on Chinese products could possibly make their shopping more expensive this year. However, to keep up with the margins, most retailers did not raise their prices. Spot checks on the ground showed there were fewer shoppers this year as retail chains started offering discounts earlier than usual to make up for a shorter holiday season this year.
