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Record $10.8 Billion Spent Online on Black Friday 2024

This Black Friday, US consumers set a new milestone in holiday shopping by spending an unprecedented $10,800,000,000 online. A 10.2% increase from the previous 2023 year.

Published: Dec 1, 2024 11:37 AM

By RETAILBOSS Team

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InsightsTrends

Record $10.8 Billion Spent Online on Black Friday 2024

This Black Friday, US consumers set a new milestone in holiday shopping by spending an unprecedented $10,800,000,000 online. A 10.2% increase from the previous 2023 year. The surge in online transactions shows a shift in consumer behavior, with shoppers favoring the convenience of digital shopping platforms.

Despite an overall reduction in foot traffic at physical retail locations—down 3.2% nationally, with specific declines in the Midwest (7%), Northeast (2.1%), South (3.5%), and West (3.2%)—online sales soared. Mastercard reported a 14.6% year-over-year rise in online sales, juxtaposed with a mere 0.7% increase in in-store purchases.

This shift was further corroborated by Adobe Analytics, which highlighted that Americans spent $10.8 billion online on Black Friday, up from $9.8 billion in 2023. Popular categories included jewelry, electronics, and apparel, with Shopify achieving a new global record of $5 billion in Black Friday sales. An earlier NRF report expected consumers to spend a record average…

of $902 per person this holiday season, reflecting ongoing enthusiasm for seasonal deals and strategic shopping endeavors. RB Insights Record Spending: According to Adobe shopping trends report, $10.8 billion was spent online, a 10.2% increase from 2023.

Mobile Dominance: Adobe forecasts mobile revenue share will hit a record 53.2% of online shopping and account for $128 billion. Top Products: Significant sales increases in toys (622%), jewelry (561%), and appliances (476%). AI Influence: Traffic to AI-assisted shopping sites surged by 1,800%.

The Rise of Online Shopping The 2024 Black Friday shopping event showcased the growing dominance of e-commerce, with consumers increasingly turning to their smartphones and computers to snag deals. Adobe Analytics reported that shoppers spent an average of $11.3 million every minute between 10 a.m. and 2 p.m.

on Black Friday, highlighting the day’s significance in the retail calendar. Mobile Shopping Trends Mobile devices played a crucial role in this year’s shopping frenzy, accounting for 55% of all online sales, translating to approximately $5.9 billion…

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