2024 Black Friday online shopping sets massive record

Black Friday’s Digital Frenzy Breaks Records

Online Black Friday shopping in 2024 wasn’t just a trend but a tidal wave of spending that left previous records in the dust. Adobe Analytics reported a jaw-dropping $10.8 billion spent online—a staggering 10.2% increase from 2023 and nearly double what shoppers shelled out just seven years ago. While turkey leftovers chilled in the fridge, e-commerce blazed its way into the history books.

This wasn’t just a regular shopping day on steroids but a full-blown extravaganza. Spending on toys soared over seven times the average daily rate, while jewelry and electronics spending multiplied by six and four times, respectively. The real MVPs? Harry Potter LEGO sets, Disney Princess dolls, and Cookeez Makery playsets, to name a few. Thanks to mobile shopping and chatbots making online purchases more seamless, these record-breaking numbers may be the beginning of a new era in holiday shopping.

Vivek Pandya of Adobe Digital Insights called crossing the $10 billion threshold a milestone, signaling a seismic shift from in-store to online Black Friday traditions. And the momentum isn’t slowing. Americans are expected to drop $5.2 billion on Saturday and $5.6 billion on Sunday, setting the stage for a show-stopping $13.2 billion Cyber Monday. That’s a 6.1% boost from last year.

The National Retail Federation (NRF) backed up this optimism with equally dazzling stats, forecasting that nearly 200 million Americans will shop during the five-day Thanksgiving-to-Cyber-Monday window. The NRF’s Matthew Shay applauded the resilience of consumers and the preparedness of retailers, who offered convenient, affordable options to meet this online shopping bonanza head-on………[read more]

Rising Dough

With more consumers leaning into online shopping, how might the growing dominance of e-commerce during events like Black Friday reshape the strategies of businesses, investors, and marketers in the next decade?