![\"Retail](\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\")
<\/a><\/p>\n<\/p>\n
[Editor\u2019s Note: This story was updated on Dec. 4, 2024 to include Cyber Monday and Cyber Week results]<\/em><\/p>\n Easing inflation, the looming threat of potential tariffs and heavy discounting saw Americans spend in record numbers over the Thanksgiving weekend, racking up $76 billion<\/strong> in sales in the U.S., a 7%<\/strong> increase over 2023, according to Salesforce. Over the five<\/strong>-day shopping period from Thanksgiving through Cyber Monday, the National Retail Federation estimates that 197 million<\/strong> American shoppers turned out, surpassing initial expectations.<\/p>\n \u201cThanksgiving weekend retains its prominence among holiday spending events and continues to play a significant role in the holiday season for both consumers and retailers,\u201d said Matthew Shay, NRF President and CEO in a statement. \u201cEven with this year\u2019s shortened shopping period and the multitude of early sales promotions from retailers, this past weekend exceeded expectations in terms of the sheer volume of shoppers.\u201d<\/p>\n While Black Friday remains the most popular day for both in-store and online shopping, according to the NRF survey, Cyber Monday broke sales records as the biggest online shopping day of all time,<\/strong> based on sales figures from Adobe Analytics.<\/p>\n The top shopping destinations throughout the weekend included department stores (42%<\/strong>), online (42%<\/strong>),\u00a0grocery stores and supermarkets (40%<\/strong>),\u00a0clothing and accessories stores (37%<\/strong>)\u00a0and discount stores (32%<\/strong>), according to the NRF survey. The NRF expects spending during the full holiday period (from Nov. 1 to Dec. 31) to reach record levels this year, growing between 2.5% <\/strong>and 3.5%<\/strong> over 2023 for a total of $979.5 billion<\/strong> to $989 billion<\/strong>.\u00a0<\/p>\n Banner sales on Cyber Monday, driven largely by that day\u2019s heavy discounting, signal that inflation-weary shoppers are willing to spend \u2014 but also are intently focused on getting the best value for their money.<\/p>\n Adobe figures put U.S. spending on the day at $13.3 billion<\/strong>\u202f(up\u202f7.3%<\/strong> YoY), while Salesforce figures, which rely on different methodology, put total Cyber Monday sales at $12.8 billion<\/strong> in the U.S. (up 2%<\/strong> YoY) \u2014 record-breaking numbers however you cut it.<\/p>\n U.S. retail sales on Black Friday (excluding automotive)\u00a0were up 3.4%<\/strong>, according to\u00a0Mastercard SpendingPulse, which measures in-store and online retail sales across all payment types. Online sales saw an even bigger bump, with Adobe reporting a new milestone for ecommerce on Black Friday<\/strong> as consumers spent a record $10.8 billion<\/strong> online, up<\/strong> 10.2%<\/strong> YoY. That is more than double<\/strong> what consumers spent just a few years ago in 2017, when Black Friday drove a little over $5 billion<\/strong> in online spend. Salesforce reported an even higher Black Friday sales number of $17.5 billion<\/strong> in U.S. online sales, a 7%<\/strong> year-over-year increase.<\/p>\n \u201cBlack Friday was a good indicator of how the holiday season is positively shaping up<\/strong>,\u201d\u00a0said Michelle Meyer, Chief Economist for the Mastercard Economics Institute in a statement. \u201cOur real-time insights show that consumers are comfortably in the gift-giving spirit as price reductions and deals occur across sectors, supporting budgets for holiday shopping.\u201d<\/p>\n Home appliances, dining and furniture (+17%<\/strong>), general footwear and handbags (+13%<\/strong>) and general apparel (+10%<\/strong>) were the categories showing the highest growth rates on Black Friday in the U.S., according to Salesforce, while verticals with the highest average discount rate included general apparel (37%<\/strong> average discount), health and beauty (36%<\/strong> average) and home goods (27%<\/strong> average).<\/p>\n \u201cJust as we predicted, bargain hunters held out for Black Friday to snag those big-ticket items<\/strong>,\u201d said Caila Schwartz, Director of Consumer Insights at Salesforce in a statement. \u201cOur data revealed that luxury handbags and home appliances \u2014 categories with heftier price tags \u2014 were the stars of the show, even with modest discounts. It\u2019s clear that consumers saw Cyber Week as the ultimate splurge season.\u201d<\/p>\n Despite discounting throughout the weekend, Black Friday still remained the biggest sales day of the period. Shopify data aggregated across that platform\u2019s millions<\/strong> of merchants indicated that Noon Eastern on Friday, Nov. 29 was the peak sales hour<\/strong>.<\/p>\n Additionally, marketing platform Bluecore found that 64%<\/strong> of all 2024 Black Friday shoppers were new to retailers, indicating that retailers\u2019 seasonal customer acquisition efforts are paying off. \u201cConsidering the skyrocketing costs of new customer acquisition, retailers who can identify shoppers and turn one-time buyers into repeat customers will ultimately spend less to make more<\/strong>,\u201d said Jason Grunberg, Chief Marketing Officer of Bluecore in a statement. \u201cAnd now they have 64%<\/strong> more customers they can target with this goal in mind.\u201d<\/p>\n Consumers also continued to shift their online shopping to mobile devices, a trend that has been steadily growing for the past several years. Salesforce reported that 80% of global traffic came from mobile devices on Black Friday<\/strong>, with mobile devices driving 69%<\/strong> of all orders, up from 68%<\/strong> in 2023. Adobe noted a similar trend, and Salesforce indicated that the increase in consumers actually completing transactions on their phones was likely due to the growing prevalence of mobile wallets<\/strong>, which grew 41%<\/strong> YoY.<\/p>\n Both Salesforce and Adobe also noted the emerging influence of generative AI-powered chatbots<\/strong>. Salesforce reported that AI and AI agents drove $14.1 billion<\/strong> in online sales on Black Friday globally as usage of Gen AI features bumped up 6%<\/strong> week over week on that day and the usage of AI-enabled online chat services grew 31%<\/strong> year over year. Additionally, traffic to retail sites from chatbots on Black Friday increased by 1,800%<\/strong> compared to Black Friday last year, according to Adobe. \u00a0<\/p>\n \u201cBy harnessing the value of AI and agentic conversations, retailers are better equipped to serve the needs of their shoppers and drive them to the \u2018buy\u2019 button,\u201d said Salesforce\u2019s Schwartz. \u201cDigital retailers that are using generative AI and agents in their customer service experiences saw a 9% higher conversion rate <\/strong>compared to those who are not. For an industry that is often concerned with margins, especially ahead of rising costs in 2025, this percent increase is a game-changer.\u201d<\/p>\n Banner online sales over the holiday weekend did come at the expense of in-store shopping. Data from in-store traffic analytics provider RetailNext found that store foot traffic decreased 3.2% <\/strong>on Black Friday and 0.8%<\/strong> on Saturday, for a Friday\/Saturday average overall decrease of 1.9%<\/strong>.<\/p>\n \u201cThe extended shopping period has ultimately decreased the singular importance of Black Friday itself,\u201d said Joe Shasteen, Global Head of Advanced Analytics at RetailNext in a statement. \u201cCategories like apparel, footwear and jewelry saw notable traffic increases on the Saturday following Black Friday, indicating that consumers are spreading out their purchases. These trends show a shift in shopping behavior, with extended promotions allowing for more flexibility and reducing reliance on Black Friday as the primary shopping day.\u00a0<\/p>\n \u201cWhile foot traffic remains a cornerstone for measuring offline performance, today\u2019s shoppers are increasingly expecting a seamless experience across all channels<\/strong>,\u201d Shasteen added. \u201cRetailers who successfully connect their physical stores with digital platforms will be better positioned to capture value this holiday season and beyond.\u201d<\/p>\n Indeed, preliminary sales figures show a general trend toward online purchasing during these major sales periods, especially Black Friday, given that consumers may still have negative connotations from the crowded stores of Black Fridays past. Some of the biggest holiday gifting categories saw huge online sales growth this weekend, according to Adobe, including toys (online sales up 622%<\/strong> from the October 2024 average), jewelry (online sales up 561%<\/strong>), appliances (up 476%<\/strong>), personal care (up 440%<\/strong>), apparel (up 374%<\/strong>) and electronics (up 334%<\/strong>).<\/p>\n \u201cCrossing the $10 billion<\/strong> mark is a big ecommerce milestone for Black Friday, for a day that in the past was more anchored toward in-store shopping,\u201d said\u00a0Vivek Pandya, Lead Analyst at Adobe Digital Insights in a statement.\u00a0\u201cAnd with consumers getting more comfortable with everything from mobile shopping to chatbots, we have tailwinds that can prop up online growth for Black Friday moving forward.\u201d\u00a0<\/p>\n There\u2019s still one day left in the five-day Thanksgiving weekend sales bonanza \u2014 Cyber Monday \u2014 and experts are widely expecting banner sales to continue. Salesforce predicts that Cyber Monday will drive $51 billion<\/strong> in global sales and $13.5 billion<\/strong> in the U.S., up from 2023\u2019s $48.4 billion<\/strong> globally and $12.6 billion<\/strong> in the U.S. And Adobe expects Cyber Monday to be the biggest shopping day for online sales not just this holiday season, but for the whole year, driving a record\u202f$13.2 billion<\/strong>\u202fin spend, up\u202f6.1%<\/strong>\u202fyear over year.<\/p>\n<\/p><\/div>\nCyber Monday 2024 Becomes Biggest Online Shopping Day of All Time<\/strong><\/h2>\n
Black Friday Remains a Shopping Stronghold<\/strong><\/h2>\n
Significant Discounts Helped Boost Sales<\/strong><\/h2>\n
Online Shopping Continues its Shift Toward Mobile<\/strong><\/h2>\n
AI Shopping Assistants Make a Big Entrance<\/strong><\/h2>\n
Foot Traffic Falls as Consumers Set New Ecommerce Record<\/strong><\/h2>\n
Looking Ahead to Cyber Monday<\/strong><\/h2>\n