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Black Friday Sees Record Sales, Still Less Than 11% Of China's Singles Day

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Black Friday Sees Record Sales, Still Less Than 11% Of China's Singles Day

The online sales on Black Friday hit a record of $7.4 billion this year, according to the 2019 Holiday Shopping Trends report by Adobe Inc (NASDAQ: ADBE).

Record Sales

The sales are up 19.6% compared to last year. The Black Friday sales fell slightly short of Adobe’s estimated $7.49 billion.

The sales on Thanksgiving day also hit a record of $4.2 billion, 14.5% more on a year-on-year comparison.

The top-selling products on Black Friday — according to Adobe — included MGA Entertainment’s L.O.L Surprise! Dolls, toys themed on recently released film Frozen 2, soccer video game FIFA 20, football video game Madden NFL 20, and video game console Nintendo Switch by Nintendo Co (OTC: NTDOY).

On Thanksgiving day, Apple Inc’s (NASDAQ: AAPL) laptops and Amazon.com Inc’s (NASDAQ: AMZN) media player Fire TV were among the bestsellers.

Adobe is expecting sales from smartphones to account for nearly 50% of the revenue growth during the holiday shopping season compared to last year.

The sales from smartphones alone accounted for $2.9 billion of Black Friday sales, Taylor Schreiner, the head of Adobe Digital Insights said in a statement, according to TechCrunch.

Short of China’s Singles Day

The Black Friday record sales look insignificant when put next to China’s Singles Day sales earlier in November, which also hit a record high this year.

The Singles Day sales on just two of China's largest e-commerce platforms Alibaba Group Holding (NYSE: BABA) and JD.com (NASDAQ: JD), accounted for more than $68 billion, which is more than nine times that of the overall Black Friday sales.

Posted-In: Adobe Alibaba AmazonNews Retail Sales Global Media General Best of Benzinga

 

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