News Worms
News Worms


Macy's suffers credit card processing slowdown on Black Friday (M)

Macy's suffers credit card processing slowdown on Black Friday (M)

Smartphones sales break all record this year. But sales are up even when you factor in a larger time period.

And apparently those looking for online doorbusters started their shopping spree on Thanksgiving evening.

Deal-hungry customers spent as much as $1 million per minute on the Internet at the height of Black Friday, e-commerce platform Shopify said.

The credit card processing slowdown began hours after Macy's chief executive, Jeff Gennette, told CNBC that the retailer was better off this year than last, had robust online demand and was in a good place for holiday promotions. Adobe says online sales at the 100 largest U.S. Web retailers totaled approximately $7.9 billion on Black Friday and Thanksgiving, marking a almost 18 percent increase from 2016.

And that's good news for retailers this year.

Springboard says that consumers have grown wise to the fact that discounting continues after Black Friday.

"Last year, sales were pulled forward by the increased November activity, and as we move into December, we're expecting to see a repeat of last year's pattern with footfall slow to build, after Black Friday has taken the stuffing out of bargain-hunters, but we're predicting a resurgence of activity in the last week before Christmas". By 5 p.m. ET on Thanksgiving, shoppers had spent more than $1.52 billion, up 16.8 percent from previous year, CNBC reported.

According to Adobe Insights, 61.1 per cent of shoppers' visits to retailers' websites were for mobile devices, including smartphones and tablets.

In the meantime, there's plenty of busy holiday shopping days to come.

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