Nov 23, 2018 - Economy

Shoppers spent $1 billion via smartphones on Thanksgiving

Dwindling numbers of mall shoppers.

Photo: Emanuele Cremaschi/Getty Images

Shoppers using smartphones spent more than $1 billion in a day for the first time on Thanksgiving, CNBC reports citing data from Adobe Analytics. Overall online spending was $3.7 billion, up 28 percent from a year ago. More than $6.4 billion was forecast to be spent today.

Why it matters: Like most activities that move online, shopping is becoming a mobile experience as well. And it comes at the expense of traditional retailers. "Black Friday doesn't have the sense of urgency as in the past," according to an analyst note cited by CNBC, and survey data showed most mall operators saying traffic was the same or down from the year before.

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