The stocks of e-commerce companies surged following the record online spending by Black Friday shoppers
On Thanksgiving and throughout the Black Friday weekend, shoppers came out in large numbers, mostly avoiding physical stores in favor of the convenience of online shopping from their own sofas.
Online spending on Black Friday in the U.S. hit a new high of $9.8 billion, marking a 7.5% increase from the previous year, as reported by Adobe Analytics.