Black Friday online sales ring in at $7.4 billion

Black Friday online sales ring in at $7.4 billion
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This year’s Black Friday online sales broke a record, ringing in at $7.4 billion in transactions, according to Adobe Analytics

The total haul Friday falls just short of 2018’s Cyber Monday, which saw $7.9 billion in online sales and set the one-day record for online sales.

Adobe Analytics said it anticipates online sales to reach $9.4 billion on this year’s Cyber Monday.

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A significant portion of shopping — 39 percent — takes place on people’s phones. 

The top five selling products on Black Friday were L.O.L Surprise dolls, "Frozen 2" toys, the "FIFA 2020" video game, the "Madden 20" video game and the Nintendo Switch.

The surge in online shopping could have been a factor in reports of a dip in traffic at brick-and-mortar stores Friday. 

Retail shopping has helped bolster economic growth throughout 2019 despite doubts from businesses that the growing trade war with China would be detrimental to the consumer economy. However, economic gains have slowed since the economy’s "red-hot" start at the beginning of the year.