With a healthy economy and shoppers savvier than ever (and wisely unwilling to leave the warm comfort of their pajamas for sales deals), Amazon has once again made a boatload of cash on Black Friday. Considered the biggest sales day of the year in the United States, Black Friday was traditionally a day that was full of camping outside retailers and preparations for William Wallace-esque melee charges towards the best deals possible. Now, people sit back, click, and Amazon rakes in the cash.
According to TechCrunch, e-commerce sales in 2017 have hit a record $2.87 billion, which is up 18.3 percent from last year. TechCrunch puts these numbers in perspective: 2016 saw a total $1.93 billion in sales. Online shopping is healthy, and Amazon is the king of online shopping.
Business Insider is reporting a 45-50 percent share of Black Friday sales belonging to Amazon, which means CEO Jeff Bezos’ monolithic money-making machine has made over $1 billion in just 24 hours. The surge sent Amazon’s shares up 2.86 percent since the sales day closed, making Bezos, who owns 78.9 million shares of Amazon, once again the world’s richest man, worth over $100 billion.
Some people spend on Black Friday, Bezos makes a billion. Meanwhile, Black Friday as we know it is going away forever.
(Via Business Insider/TechCrunch)
