US: Black Friday sales expected to set record over $12B

By Ovunc Kutlu

NEW YORK

Total sales on Black Friday are expected to reach an unprecedented historic level in the U.S., according to data compiled by Anadolu Agency.

Store sales in the U.S. on Black Friday -- when retailers offer discounts and promotions across the country -- are projected to reach $9.2 billion, while online sales are anticipated to be around $3.1 billion, according to market consensus.

This brings the total Black Friday sales estimate to $12.3 billion this year, which is over 2015’s $10 billion.

Thanksgiving weekend -- which runs from Thursday, includes Black Friday, Small Businesses Saturday, Sunday and ends with “Cyber Monday” when more online companies offer discounts and promotions -- is also expected to reach record sales figures.

Through the Thanksgiving weekend, sales in the U.S. are projected to total over $55 billion, surpassing the $53-billion level reached during the same period last year.

Online sales during Thanksgiving weekend are also estimated to increase year-over-year.

Such sales during Thanksgiving Day are expected to rise by 15 percent, from last year to reach $2 billion this year, according to U.S.-based research company Adobe Digital Insights (ADI).

Black Friday sales from the internet are projected to increase by 11 percent from 2015 to $3.1 billion, while Cyber Monday online sales are anticipated to rise by nine percent to $3.4 billion year-over-year.

Including Sunday, online sales in the U.S. are estimated to total over $12 billion during Thanksgiving weekend, according to ADI.

ADI also noted in a statement last month that it expects American consumers to prefer shopping online more on this year's Thanksgiving weekend to avoid "the stress and strain that take place during the holidays".

Dubbed the "holiday season" in the U.S., which begins with Thanksgiving Day and extends through New Year’s Eve on December 31, American consumers are expected to spend $91.6 billion just on online purchases, according to ADI.

During November and December this year, American people are projected to spend around $117 billion during their online purchases, according to the National Retail Federation.

Americans' total projected consumption, including online and store sales in November and December, is expected to be $656 billion this year, which is over last year's figure of $631 billion, according to financial research firm WalletHub.