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Tech & Science Black Friday online spending is soaring to new highs as people do more and more of their shopping on their phones

20:06  29 november  2019
20:06  29 november  2019 Source:   businessinsider.com.au

When It's Worth Shopping On Black Friday

  When It's Worth Shopping On Black Friday Maybe you already kicked off your holiday shopping. You snagged a Singles Day deal or one of the many pre-holiday sales dangled by retailers in early November. But it’s all a run-up to the big day: Black Friday. I know, I’ve said before that Black Friday is passé now that online shopping has ensured that deals are actually all around us, pretty much constantly. require(["inlineoutstreamAd", "c.

a group of people sitting in front of a computer: Black Friday shoppers have already spent a huge amount of money online. Black Friday shoppers have already spent a huge amount of money online.
  • Black Friday online sales are currently on track to reach $US7.4 billion, while Thanksgiving Day sales already beat records by surpassing $US4 billion for the first time, according to Adobe Analytics.
  • An increasing percentage of these sales are coming from online shopping, with a significant uptick in purchases made on mobile devices. Adobe Analytics found that nearly half of Black Friday sales thus far have come from a smartphone, at a rate 24.4% higher than during the 2018 shopping season.
  • Sign up for Business Insider's retail newsletter, The Drive-Thru.
  • Visit Business Insider's homepage for more stories.

With hours still remaining for shoppers to take advantage of Black Friday sales, the annual shopping event is already shattering records.

Amazon's Black Friday Sale: Everything You Need To Know

  Amazon's Black Friday Sale: Everything You Need To Know Attention online shoppers! Amazon is throwing its second ever Black Friday event in Australia this week, with tens of thousands of bargains appearing at the stroke of midnight on Thursday night. Here's everything you need to know about Amazon's Black Friday sale: including a sneak peak at some of the deals on offer. Click here to see Amazon's full list of mega deals so far!Amazon Black Friday: Why you need to be excitedWith Amazon.com accounting for more than 50% of all Black Friday sales in the US, big things are expected for its sophomore sale Down Under. require(["inlineoutstreamAd", "c.

Black Friday online sales are currently on track to reach $US7.4 billion, and shoppers have already spent more than $US600 million online as of 9 a.m. ET Friday morning, according to Adobe Analytics. That figure represents an increase of 19.2% over last year. Of these purchases, 44.9% came from a mobile device - indicating that nearly half of online shoppers are making holiday purchases from a smartphone, at a rate 24.4% higher than in 2018.

The rise in mobile sales is on track with Adobe's predictions from earlier this month that smartphones will continue to play a significant role in holiday shopping. The company likened the phenomenon to having a "shopping mall in your pocket."

Early sales on Thanksgiving Day also beat records this year. According to Adobe Analytics, sales surpassed $US4 billion for the first time, reaching $US4.2 billion by midnight - a 14.5% increase over last year.

How Did Black Friday Get Its Name?

  How Did Black Friday Get Its Name? The day after Thanksgiving, one of the busiest shopping days of the year, has a rather sinister label. How did that happen?If Black Friday is such a financial benefit, why is it called Black Friday? That modifier was usually reserved for cash-draining events like the Black Thursday that precipitated the 1929 stock market crash or the 1869 gold market collapse that led to financial ruin.

Jason Woosley, vice president of commerce product and platform at Adobe, said in a statement that Thanksgiving Day continues to position itself as "a favoured day by consumers for accelerating th

eir holiday spending and shopping efforts."

According to Sucharita Kodali, vice president and principal analyst at Forrester Research, the growth of online sales on Black Friday is partially attributed to the wider variety of products available through e-commerce channels.

"[There are] lots of items available at deep discounts, and more variety online too, like full assortment of colours and sizes," Kodali wrote in an email to Business Insider.

Jono Bacon - a retail consultant who works with clients like Microsoft, Sony, and Dyson - told Business Insider that the growth of online shopping on Black Friday is a response to several factors, including major e-commerce companies like Amazon starting to promote holiday deals earlier and earlier in the season, as well as general fatigue over the brick-and-mortar doorbuster.

Black Friday in Australia deals up pre-Christmas bargains, but shoppers need to watch for pitfalls

  Black Friday in Australia deals up pre-Christmas bargains, but shoppers need to watch for pitfalls It's now the biggest week for online shopping in Australia, but Black Friday and Cyber Monday don't come without potential pitfalls.Last year's online shopping sales numbers were the biggest in Australia's history for the week covering those key dates, according to Australia Post's delivery data.

"Consumers are growing tired of the retail store rat race - finding a parking spot, navigating the crowds, battling the cold, and ultimately finding deals often suboptimal to online offers," Bacon said.

Additionally, he said the growing the rise of retailers like REI closing their doors on Black Friday continues to prompt shoppers to seek holiday deals online.

"There has been a significant trend in retailers closing on Thanksgiving and Black Friday due to social pressure to give their staff the time off," he said. "Online doesn't experience these limitations: consumers can get better offers, more conveniently."

Moving into the rest of the holiday weekend and Cyber Monday, Adobe Analytics anticipates that sales momentum will continue to pick up - particularly online and on mobile devices.

"Don't expect the momentum to slow down anytime soon; with $US7.5 billion in online spend projected for Black Friday, it's clear that the largest dollar gains for retailers and shoppers have yet to come," Woosley wrote in a statement.

  • Read more about Black Friday:
  • I went behind-the-scenes at a Best Buy on Thanksgiving to see what it's really like to work during Black Friday, retail's 'Super Bowl'
  • Costco's website crashed for several hours over Thanksgiving, and experts estimate it could have cost the retailer nearly $US11 million in sales
  • Black Friday has been a shopping bonanza for the last two decades. Here's how it has evolved over the years.
  • Furious shoppers say Walmart is selling out of major deals before Black Friday starts, with Apple Watches selling out in minutes

Customers are fuming after receiving Black Friday Amazon orders that contained condoms, toothbrushes, or even a tambourine instead of a Nintendo Switch .
Amazon apologised this week after receiving a barrage of complaints from customers who reported receiving random items instead of their Black Friday purchases. According to The Daily Mirror, at least a dozen buyers have complained to the world's largest online retailer about receiving the wrong items in their Black Friday orders.Jake Lawrence from Leicester, England, wrote on Twitter that he had ordered a Nintendo Switch but was instead sent a microphone and a tambourine.

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