Black Friday and Cyber Monday Were the Biggest Ever

Investing.com - Black Friday 2017 spelled nothing but good news for retailers – especially in regards to online sales, which reached record-breaking numbers.Adobe Digital Insights measures the online transactions at the 100 largest US web retailers, and according to their report, a record $5.03 billion was spent online this past Black Friday, representing a 17% increase from last year’s $4.3 billion. This year also represented a big shift to mobile, as for the first time, computers accounted for less than half of all orders. Phones were responsible for 60% of all traffic directed to retail sites. But just because online sales boomed, doesn’t mean physical stores suffered. According to ShopperTrak, foot traffic to brick-and-mortar retailers was essentially unchanged, down only one percent year over year.Preliminary Cyber Monday sales are estimated at 6.6 billion dollars, up from 5.6 billion dollars a year ago.It’s interesting to note, that though Black Friday and Cyber Monday sales are both an all-time high, it’s still dwarfed by the $25 billion that Alibaba (NYSE:BABA) racked up on Singles Day.