U.S. shoppers spent 8.6 billion dollars online this Black Friday, according to a new report from the data and insights arm of a technology company. The study, which analyses more than one trillion visits to U.S. retail websites, showed that more consumers chose online shopping over stepping out in cold weather to look for discounts.
Online spending increased by 9.4 percent through 6:30 p.m. ET compared with the same period last year. While retailers expected heavy footfall in stores, early morning activity remained slow. Shoppers appeared cautious due to concerns about inflation, ongoing trade uncertainty, and a weakening labour market.
Despite this slow start in physical stores, the firm said total online spending for Black Friday is expected to reach between 11.7 billion and 11.9 billion dollars once the final tally is completed. If the prediction holds, it will set a new record for Black Friday online sales.
The report also estimates that shoppers will spend 5.5 billion dollars on Saturday, marking a 3.8 percent rise from last year, and 5.9 billion dollars on Sunday, reflecting a 5.4 percent increase. Elevated discounts are expected to drive continued momentum throughout the weekend.
Cyber Monday is likely to remain the biggest online shopping day of the season, with projected spending reaching 14.2 billion dollars. This would represent a 6.3 percent rise from last year.
The same firm, which earlier forecast an 8.3 percent increase in Black Friday online spending to 11.7 billion dollars, recently noted that overall U.S. holiday online sales are expected to grow at a slower pace this year.
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