Black Friday 2024 wasn't just big for e-commerce—it was a turning point for the role of AI in retail. Adobe Analytics reported that U.S. online sales hit $10.8 billion, up 10.2% from last year, while Salesforce's broader estimate reached $17.5 billion. The game-changer? Generative AI. These digital tools didn't just enhance the shopping experience; they drove a stunning 1,800% surge in retail site traffic by helping shoppers find deals and check out faster. Toys stole the show, with online sales skyrocketing 622% from October. Heavy hitters like LEGO and Mattel's (MAT, Financial) Disney Princess dolls emerged as the must-haves of the season, proving that strong brands and seamless tech integration make for a winning combination.
If Black Friday 2024 had a star, it was mobile shopping. Mobile devices accounted for 55% of online sales, bringing in $5.9 billion—a 12.1% increase from last year, according to Adobe. BNPL services also had a standout moment, raking in $686 million, with 80% of those transactions happening on mobile. Meanwhile, traditional retail struggled. Nationwide foot traffic dropped 3.2%, with snowstorms hammering the Midwest, resulting in a 7% decline in the region. Electronics and appliances led big-ticket sales, driven by discounts that peaked at 27%. But inflation and extended sales promotions spread consumer spending over weeks, chipping away at Black Friday's in-store allure.
Black Friday 2024 sent a clear signal: retail's growth is firmly anchored in digital innovation. Companies like Mattel are capitalizing on strong product demand with digitally optimized strategies, while Shopify (SHOP, Financial) and Amazon (AMZN, Financial) are leveraging AI tools to keep customers engaged and shopping. Payment platforms like PayPal (PYPL, Financial) and Affirm (AFRM, Financial) are locking in their share by enabling frictionless mobile checkouts. With Cyber Week projected to hit $40.6 billion in online sales—a 7% boost from last year—it's clear the retail leaders of tomorrow are those doubling down on AI, mobile-first strategies, and seamless digital experiences. For investors, these are the players to watch.
