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.
Shoppers in the US spent a record 9.8 billion on Black Friday, marking a 7.5 percent increase from the previous year
According to local media, consumers have become more strategic in taking advantage of discounts on marquee shopping days.
The top-selling categories on Black Friday were smartwatches, televisions, toys, and gaming. Prior to Black Friday, Americans spent5.6 billion on online shopping on Thanksgiving Day, representing a 5.5 percent increase from the previous year.