CNN Money: Online Sales Boomed on Black Friday

A new record was set this year by American shoppers on Black Friday. According to a recent CNN Money article, consumers spent $5 billion in 24 hours—a 16.9 percent increase in dollars spent online compared to Black Friday one year ago. Traditional retailers saw a small dip in foot traffic in stores but online businesses like Amazon saw orders coming in quicker than expected.  

"There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail, and the fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and, when done right, profitable," said Brian Field, senior director of advisory services for ShopperTrak, a data analytics company.

Thanksgiving Day and Black Friday in-store traffic may have been down close to 2 percent compared to last year, but this is most likely due to more stores opting to stay closed on Thanksgiving Day. More details on sales numbers will be revealed as retailers post their earnings reports.

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