What: Global Black Friday online sales reached $74.4 billion in 2024, with mobile commerce and AI-driven solutions reshaping the shopping landscape.

Why it is important: The record-breaking performance validates retailers' investments in AI and mobile technology, while highlighting the growing importance of digital transformation in meeting evolving consumer expectations.

The 2024 Black Friday shopping event marked a historic milestone in retail, with global online sales reaching $74.4 billion, representing a 5% increase from the previous year. The momentum began on Thanksgiving, which saw $33.6 billion in global online spending. In the U.S. market, different tracking methodologies revealed significant growth, with Adobe reporting $10.8 billion in sales (up 10.2% year-over-year) and Salesforce estimating $17.5 billion (up 7%). Mobile commerce dominated the landscape, accounting for 55% of all online spending, equivalent to $5.9 billion, demonstrating a 12.1% year-over-year increase. The integration of AI technologies played a crucial role, with retail sites experiencing an 1,800% increase in traffic from GenAI chatbots compared to the previous year. Notably, 20% of surveyed consumers reported using chatbots for deal-finding and shopping recommendations, indicating a growing acceptance of AI-assisted shopping experiences. Peak shopping hours between 10 a.m. and 2 p.m. Eastern saw spending rates of $11.3 million per minute, highlighting the event's intensity and consumers' enthusiasm for holiday bargains.

IADS Notes: The record-breaking Black Friday 2024 performance, with $74.4 billion in global online sales, represents the culmination of several key trends observed throughout the year. In March 2024, Adobe's research predicted this surge by revealing that 58% of consumers embraced AI-enhanced shopping experiences . This consumer openness to AI technology was further validated in November 2024, when a BCG study showed that 38% of shoppers were actively using GenAI tools during major sales events . The dominance of mobile commerce, accounting for 55% of Black Friday 2024's online spend, builds upon the trend identified in December 2023, when mobile transactions reached 59% of online sales . Supporting these developments, retailers' adoption of AI-driven pricing strategies in November 2024  proved crucial in managing the delicate balance between consumer demand and profitability during the holiday season.

Black Friday hits a record $74.4B in sales online, up 5% on last year