BUSINESS

American Consumers Spend Billions In Holiday Shopping Spree

Americans spent $7.4 billion online on Black Friday and $4.2 billion on Thanksgiving Day.

With the unemployment rate at 3.6% and a stable economy, shoppers were out in large numbers or online to swoop up the deep discounts offered by merchandisers over the holiday period.

Consumers spent $11.6 billion online over the two days. Friday was also the biggest day ever for mobile sales, as $2.9 billion came from smartphones. People are getting more comfortable with buying online and on smaller screens.

Black Friday brick-and-mortar sales were up 4.2%, with the greatest increase over normal shopping activity seen across electronics and appliances, sporting goods, and clothing and shoes, according to data compiled by Fiserv.

At the same time, retailers are anticipating a bigger shopping spree this cyber Monday. Adobe is projecting $9.4 billion in online sales as shoppers seek to capitalize on deals from merchandizers.

Jason Woosley, Adobe’s vice president of commerce product and platform estimates that consumers will spend $29 billion online between Thursday and Monday. That five-day “Cyber Week” period should account for a 20% chunk of the $143.8 billion in online sales Adobe predicted for this holiday season.

With Thanksgiving coming six days later than last year, retailers boosted their advertising and offered deep discounts on items such as appliances, sporting goods, televisions, consumers and toys, according to Adobe Analytics.

Barbara Green, Readers Bureau, Fellow

Edited by Jesus Chan

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