Wed, 29/10/14 – 12:23 | No Comment

Reddit isn’t just a social sharing and commentary site anymore. Now, with the release of Redditmade, it’s a crowd-sourced funding site as well. Interestingly, Redditmade works as a sort of mashup of Reddit and traditional …

Read the full story »
freelance

the latest news and trends emerging in the Freelance space

funding

up the minute reporting of all recent money raises, mergers & acquisitions

social commerce

social commerce is buying and selling stuff online with friends helping

software

startups

find cool sites reviewed daily and whether or not your should visit them

Home » social commerce

Black Friday e-commerce spending breaks $1 Billion

Submitted by Craig Agranoff on Tuesday, 27 November 2012 No Comment

ComScore has reported that U.S. retail e-commerce spending was up 26% year-on-year for Black Friday spending.  This means that, for the first time, online spending was over $1 billion.  For the season itself, it appears that online sales will break more records before the year is out.

To-date, more than $13.7 billion has been spent online for this Holiday Season.  That’s a 16% increase over last year and analysts expect that percentage and the dollar figure to continue growing for the rest of the season.  Consumers spent $633 million on Thanksgiving Day, up 32% over last year.  So the analysts are probably right.

“With Black Friday online sales up 26 percent and surpassing $1 billion for the first time, coupled with early reports indicating that Black Friday sales in retail stores were down 1.8 percent, we can now confidently call it a multi-channel marketing phenomenon. Meanwhile, Thanksgiving Day – which has historically been a lighter online holiday shopping day – continues to gain steam and grew well ahead of the current pace as more consumers opted to kick off their holiday shopping immediately after the big meal to take advantage of aggressive retailer promotions,” says Gian Fulgoni, comScore chairman. “With Thanksgiving now behind us and most consumers returning to work tomorrow, we can look forward with anticipation to Cyber Monday, which according to norms we’ve observed over the past three years should be the heaviest online shopping day of the season with sales approaching $1.5 billion or even higher.”

Amazon, of course, took the top spot as the most-visited and highest-revenue e-commerce site, followed by brick-and-mortar-cum-online rivals Walmart, Best Buy, Target and Apple (in that order).  Over 57 million Americans shopped online this Black Friday, an increase of 18%.

We can expect to keep seeing higher and higher numbers of online buyers as the digital age progresses.


Related Posts