Markets

Macy's suffers credit card processing slowdown on Black Friday (M)

Macy's suffers credit card processing slowdown on Black Friday (M)

Digital sales reached a record $5.03 billion, among the top sellers were Roku and the Nintendo Switch.

According to data from Adobe Digital Insights, which tracks 80% of online spending at America's 100 largest retail websites, Cyber Monday will be even bigger than Black Friday, bringing in as much as $6 billion in digital sales.

You didn't have to get off the couch on Black Friday 2017 to get the best deals.

Shares of retailers such as Macy's Inc and Wal-Mart were up on Monday following a promising start to the holiday season and ahead of what is expected to be the largest USA online shopping day in history.

Customers spent a record-high $5 billion on Black Friday alone, almost doubling the $3.34 billion spent previous year, Adobe Analytics said.

Footfall figures from Black Friday are in and the results are mixed, with some analysts saying the sales event boosted footfall while others said it didn't.




Early estimates from ShopperTrak, a data analytics company that measures the number of shoppers at stores, said foot traffic "decreased less than one percent when compared to Black Friday 2016".

There were plenty of crowds on Black Friday, but the shoppers that stayed home and took advantage of online sales is on the rise, CNN reported.

According to Ipsos Retail Performance, UK footfall on Black Friday was up 0.95 per cent year-on-year, with 42 per cent of retailers experiencing footfall growth. By 5 p.m. ET on Thanksgiving, shoppers had spent more than $1.52 billion, up 16.8 percent from past year, CNBC reported.

Cyber Monday will be biggerAdobe predicts Cyber Monday will be the largest American online shopping day in history.

Businesses are expecting a big holiday shopping season, fueled by a 4.1% unemployment rate, which is the lowest in 17 years.


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