Retail stocks climb higher on the heels of Black Friday

So while the holiday shopping season is just getting started, it looks like retailers can expect sales to continue rolling in, potentially in record numbers.

Online sales grew significantly on Thanksgiving, and early results from Black Friday suggest a similar performance, according to Adobe Digital Insights.

American shoppers spent a record $5 billion in 24 hours.

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Predictions are that overall online holiday sales will reach $107 billion, rising more than 13% from previous year. Some $640 million was spent as of 10 a.m. Friday - that's an 18.4 percent increase from a year ago, according to Adobe Analytics.

Adobe Analytics, meanwhile, saw a 17.9% rise in the dollar value of online sales on Black Friday and Thanksgiving, to $7.9 billion. This bodes well for Cyber Monday and the remainder of the holiday season, as consistent growth of approximately 18% would be a good haul for most retailers.

Cyber Monday is now expected to mark the biggest online shopping day in US history, according to Adobe Insights, which measures 80 percent of digital transactions from 100 major retailers.

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But Brian Field, senior director of advisory services for ShopperTrak, is optimistic.

Experts believe both days totals will fall once the weekend comes to an end and the public charges head-on into the brick and mortar Christmas shopping season. Mobile sales have become a major sales driver for retailers during the recent shopping period and smartphone sales amounted to 46% of all retail website traffic on Thanksgiving.

Adobe predicts that Cyber Monday will be even bigger than Black Friday, bringing in as much as $6 billion in digital sales, CNN reported. Big retailers like, Amazon, Walmart and Target are expected to offer more deals than ever before.

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  • Kelly Blake