This year’s Black Friday online sales made an all new a record, ringing in at $7.4 billion in transactions, according to Adobe Analytics.
The total tally on Friday falls just short of 2018’s Cyber Monday, which saw $7.9 billion in online sales and set the one-day record for online sales.
Adobe Analytics noted that it anticipates online sales to reach $9.4 billion on this year’s Cyber Monday.
A large portion of shopping — 39 percent — takes place on people’s phones.
The top five selling products on Black Friday were L.O.L Surprise dolls, “Frozen 2” toys, the “FIFA 2020” video game, the “Madden 20” video game and the Nintendo Switch.
The increase in online shopping could have been a factor in reports of a slow down in traffic at brick-and-mortar stores Friday.
Retail shopping has helped increase economic growth throughout 2019 despite doubts from businesses that the growing trade war with China would be detrimental to the consumer economy. However, economic gains have slowed since the economy’s “red-hot” start at the beginning of the year.
Other top purchases included sports video games and Apple laptops. All the online shopping may have helped thin the crowd at malls on Black Friday.
Despite earlier and deeper discounts, Black Friday remained a day when shoppers came online looking for and finding even better offers. Consumers also got more comfortable buying more and bigger ticket items online. The Average Order Value (AOV) set a new record for Black Friday at $168, up 5.9% YoY.
Consumers who didn’t want to shop in stores nonetheless flocked there to pick up goods with click-and-collect orders growing a strong 43.2% year on year, a sign that retailers are successfully bridging online and offline retail operations.
Black Friday was also the biggest day ever for mobile shopping with $2.9 billion in sales coming from smartphones alone. Ecommerce giants with over $1 billion in yearly revenue were outperforming their smaller counterparts in revenue driven by smartphones: their smartphone revenue share was 11% higher and they were 66% more efficient at converting customer smartphone visits into sales.