Black Friday online sales this year topped $3 billion for the first time ever, hitting $3.34 billion, a 21.6% increase over the same day in 2015.
And this past Monday, online consumers toppled even that record –– spending a collective $3.39 billion, making it the largest online shopping event in history.
Mobile played a critical role on both days, generating $1.2 billion and $1.19 billion in sales respectively.
Facebook-owned social network Instagram has announced it is expanding its eCommerce offering beyond the Feed to Instagram Stories. This means users no longer have to leave a brand’s Story to buy items, as select brands now have the ability to include shoppable icons on images of products that will direct users to a product page.
Technology has been disrupting the retail industry for more than a decade. First, by making it easier for shops to get online by significantly expanded their reach and opened up the possibility of out-competing larger, legacy brands. SaaS and cloud-based ecommerce technology enabled this.
