Markets

Black Friday fails to lift gloom on high streets as footfall dives

Black Friday fails to lift gloom on high streets as footfall dives

Thanksgiving Day e-commerce sales totaled $2.87 billion, up 18.3% year-over-year (YoY).

American shoppers spent a record $5 billion online in 24 hours, an increase of 16.9 percent in dollars spent on the internet from Black Friday in 2016.

Data for Cyber Monday sales are expected at around noon eastern time.

Black Friday follows Thanksgiving Day that is observed on the fourth Thursday of November, heralding the Christmas shopping season.

Predictions are that overall online holiday sales will reach $107 billion, rising more than 13% from a year ago.

President Donald Trump Plays Golf With Tiger Woods
Trump took a shot at NFL Commissioner Roger Goodell, saying he "has lost control of the hemorrhaging league. Trump is an avid golf player and owns a number of golf courses around the world.

In the wake of Thanksgiving weekend, what marks the start of the holiday shopping season, retail stocks are rallying on upbeat sentiment around preliminary sales results. Amazon did not provide sales figures for the entire day.

Cyber Monday is now expected to mark the biggest online shopping day in USA history, according to Adobe Insights, which measures 80 percent of digital transactions from 100 major retailers. Last-minute mobile improvements and mobile-specific deals may boost conversion and avoid lost sales to competitors, as once consumers leave a mobile site or app, there is no guarantee they will come back or go to the corresponding brick-and-mortar location. By 5 p.m. ET on Thanksgiving, shoppers had spent more than $1.52 billion, up 16.8 percent from a year ago, CNBC reported.

Adobe Analytics said Cyber Monday is expected to drive $6.6 billion in internet sales, which would make it the largest USA online shopping day in history.

Businesses are expecting a big holiday shopping season, fueled by a 4.1% unemployment rate, which is the lowest in 17 years.


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