Black Friday breaks records with surge in online sales
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Black Friday 2024 saw record online sales of $10.8 billion, up 10.2% from 2023, driven by AI-enhanced shopping. Meanwhile, in-store traffic dropped 8.2%. Overall, over $40 billion was spent online during the Thanksgiving weekend and Cyber Monday, marking a 7% increase.
Black Friday Breaks Records with Surge in Online Sales
The 2024 Black Friday shopping season is shaping up to be one of the most successful yet, especially for e-commerce. As Cyber Monday wraps up the pre-Christmas shopping frenzy in the U.S., online sales have hit new heights, outpacing physical store sales. While the tradition of in-store Black Friday shopping, once a mainstay after Thanksgiving, is still prominent in many countries, including Italy, the focus has clearly shifted to digital platforms, which are experiencing an unprecedented surge, powered in part by artificial intelligence (AI).
E-Commerce Takes the Lead in Holiday Spending
According to Adobe Analytics, online spending during Black Friday 2024 reached $10.8 billion, marking a 10.2% increase from 2023. This spike was largely driven by consumer interest in toys, jewelry, personal care products, clothing, appliances, and electronics. AI played a crucial role in this growth by streamlining the online shopping experience, boosting site traffic for platforms leveraging AI tools by an astounding 1,800% compared to the previous year.
Black Friday now extends beyond just a single day, encompassing an entire weekend of deals, with the culmination on Cyber Monday. Early estimates for the shopping weekend included $5.2 billion in spending on Saturday, $5.6 billion on Sunday, and a projected $13.2 billion on Cyber Monday, reflecting a 6.1% increase over 2023. In total, over five days—from Thanksgiving on November 26 to Cyber Monday on December 2—Americans were expected to spend more than $40 billion online, a 7% year-over-year increase.
Sales Data: E-Commerce Dominates, Physical Stores Struggle
Salesforce provided even more optimistic figures, estimating U.S. online spending at $17.5 billion, up 7% from 2023, with global sales hitting $74.4 billion. This data highlights a global shift toward e-commerce, a trend that has only accelerated in recent years, particularly with the integration of AI to enhance shopping experiences.
However, this surge in online spending is in stark contrast to the performance of brick-and-mortar stores. According to Sensormatic Solutions, which has tracked in-store traffic during Black Friday for decades, foot traffic saw an 8.2% decline this year. This marks a reversal of the post-pandemic recovery trend, with overall traffic during the Thanksgiving week (November 24-29) down 3.9%. Year-to-date, in-store visits have decreased by 3%, highlighting a clear shift in consumer behavior.
A Changing Retail Landscape
As the e-commerce sector continues to grow, physical stores face increasing challenges to attract shoppers. The growth of online shopping, fueled by technology such as AI and convenient delivery options, signals a permanent shift in the retail landscape. While the in-store shopping experience remains important for many consumers, the data from this year’s Black Friday weekend underscores the growing dominance of online retail.
Looking ahead, retailers will need to adapt to this new reality, investing in both their online platforms and physical store experiences to meet evolving consumer expectations. The Black Friday and Cyber Monday data confirms that the future of retail is digital, with AI-driven shopping experiences playing an ever-larger role in shaping consumer spending behavior.
Black Friday Breaks Records with Surge in Online Sales
The 2024 Black Friday shopping season is shaping up to be one of the most successful yet, especially for e-commerce. As Cyber Monday wraps up the pre-Christmas shopping frenzy in the U.S., online sales have hit new heights, outpacing physical store sales. While the tradition of in-store Black Friday shopping, once a mainstay after Thanksgiving, is still prominent in many countries, including Italy, the focus has clearly shifted to digital platforms, which are experiencing an unprecedented surge, powered in part by artificial intelligence (AI).
E-Commerce Takes the Lead in Holiday Spending
According to Adobe Analytics, online spending during Black Friday 2024 reached $10.8 billion, marking a 10.2% increase from 2023. This spike was largely driven by consumer interest in toys, jewelry, personal care products, clothing, appliances, and electronics. AI played a crucial role in this growth by streamlining the online shopping experience, boosting site traffic for platforms leveraging AI tools by an astounding 1,800% compared to the previous year.
Black Friday now extends beyond just a single day, encompassing an entire weekend of deals, with the culmination on Cyber Monday. Early estimates for the shopping weekend included $5.2 billion in spending on Saturday, $5.6 billion on Sunday, and a projected $13.2 billion on Cyber Monday, reflecting a 6.1% increase over 2023. In total, over five days—from Thanksgiving on November 26 to Cyber Monday on December 2—Americans were expected to spend more than $40 billion online, a 7% year-over-year increase.
Sales Data: E-Commerce Dominates, Physical Stores Struggle
Salesforce provided even more optimistic figures, estimating U.S. online spending at $17.5 billion, up 7% from 2023, with global sales hitting $74.4 billion. This data highlights a global shift toward e-commerce, a trend that has only accelerated in recent years, particularly with the integration of AI to enhance shopping experiences.
However, this surge in online spending is in stark contrast to the performance of brick-and-mortar stores. According to Sensormatic Solutions, which has tracked in-store traffic during Black Friday for decades, foot traffic saw an 8.2% decline this year. This marks a reversal of the post-pandemic recovery trend, with overall traffic during the Thanksgiving week (November 24-29) down 3.9%. Year-to-date, in-store visits have decreased by 3%, highlighting a clear shift in consumer behavior.
A Changing Retail Landscape
As the e-commerce sector continues to grow, physical stores face increasing challenges to attract shoppers. The growth of online shopping, fueled by technology such as AI and convenient delivery options, signals a permanent shift in the retail landscape. While the in-store shopping experience remains important for many consumers, the data from this year’s Black Friday weekend underscores the growing dominance of online retail.
Looking ahead, retailers will need to adapt to this new reality, investing in both their online platforms and physical store experiences to meet evolving consumer expectations. The Black Friday and Cyber Monday data confirms that the future of retail is digital, with AI-driven shopping experiences playing an ever-larger role in shaping consumer spending behavior.