International management consulting firm Oliver Wyman released a survey last week painting a pretty grim outlook for technology and media sales, but that didn't stop shoppers from flocking online on Black Friday. According to comScore, consumers spent $534 million online on Black Friday, November 28th, up 1 percent from last year. Total online sales were up 2 percent for the combination of Thanksgiving Day and Black Friday, beating out expectations.
"Early reports suggest that Black Friday sales in retail stores were slightly better than anticipated in this depressed retail climate, and that performance apparently extended to the online channel, which saw sales on Thanksgiving Day and Black Friday combined increase 2 percent versus year ago," said comScore chairman, Gian Fulgoni. "It's probable that on Black Friday consumers responded positively to the very aggressive promotions and discounts being offered in retail stores."
Despite the 2-day sales boost, e-commerce spending for the first 28 days of November was down overall at $10.41 billion, 4 percent less than what it was in the same time frame one year ago.