Technology

Online Sales Top $1 Billion On Black Friday

There’s a first time for everything and this year’s Black Friday gave buyers just enough reasons to buy online, instead of in-store. Online sales topped $1 billion on Black Friday, for the first time in its history.

This year, as Black Friday started as early as Thanksgiving evening, buyers decided to check out the online deal, instead of the in-store chaos. So we imagine some of you have been doing their Black Friday shopping while chatting with family or a watching a late-night rerun. The online sales topped $1 billion on Black Friday for the first time.

Over four days, Black Friday sales (in-store and online) broke yet another record. Retailers earned $59 billion and although highly debatable, opening early paid off. According to a survey released this weekend by the National Retail Federation, there were 247 million shoppers who browsed online Black Friday deals and in-store discounts. Over the weekend, consumers spent $59.1 billion, up 12.8 percent compared to last year’s numbers.

But it was the online Black Friday sales that caught the eye. As more and more people have devices they can use to browse the web, regardless of their location, online sales have boomed. Plus, if for some opening on Thanksgiving wasn’t uncomfortable, many others decided to take advantage of the Black Friday discounts without spending hours waiting in line, outside stores, with their belly stuffed.

Online sales on Black Friday topped the $1 billion mark for the first time reads an analysis by ComScore Inc. The report says that online Black Friday sales are 26 percent up this year, at $1.04 billion from $816 million one year ago. The record-breaking sales are thought to be a great sign for Cyber Monday’s revenues.

Cyber Monday isn’t that old. A shopping trade group noticed that people returning from their Thanksgiving weekend were eager to spend. So a new “holiday” was invented and since then it has evolved at an intense pace. This year, ComScore Inc expects Cyber Monday sales to break all previous records. In 2011, Americans spent $1.25 billion with Cyber Monday purchases. ComCast’s report expects Cyber Monday sales for 2012 to top $1.5 billion.

Online buyers say that product descriptions and reviews are a lot more precise than in-store, not to mention they aren’t wasting money on gas, food and hot coffee to keep them going through Black Friday waiting lines.

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Eli Wads is one of our expert authors in technology and business fields.Currently living in San Marino, Eli has graduated at Southwestern Academy with a Bachelor Degree in business in 2008. Contact him by dropping him an e-mail at Eli.Wads@dailygossip.org

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