According to Adobe Analytics, online shoppers had already purchased $640 million worth of stuff by 10 a.m. ET Friday, the day after Thanksgiving.
This was 18.4% more than what online shoppers purchased last Black Friday morning. Adobe was tracking 80% of online transactions at the top 100 U.S. retailers to get their data.
The company is even projecting that Cyber Monday this year will be the largest online shopping day in history. Adobe is expecting $6.6 billion in sales.
According to the company, consumers have so far spent over $1 billion in the first 22 days of this month. By 5 p.m. ET on Thanksgiving, consumers had already spent $1.52 billion. This was a 16.8% increase compared to last year.
The company expects consumers to spend $107 billion in sales this holiday season. An increase of 14% compared to last year.
Macy’s CEO Jeff Gennette told CNBC on Friday that the retailer is off to a good start for the holiday season. He said, “We’re four weeks into it, with five weeks ahead of us. Some interesting items are [already] selling out in stores.”
According to the National Retail Federation, total holiday retail sales is expected to climb 3.6 to 4 percent this year.