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.
The 2017 holiday season is projected to be the biggest e-commerce season ever, and with many retailers counting on the holidays to redeem their lackluster performances so far this year, these early figures are a good sign for those that have invested heavily in online channels.
According to Ipsos Retail Performance, UK footfall on Black Friday was up 0.95 per cent year-on-year, with 42 per cent of retailers experiencing footfall growth. Estimates from ShopperTrak, a data analytics company that measures the number of shoppers at stores, said sales at those outlets decreased "less than 1 percent" compared to Black Friday in 2016, CNN reported.
While brick-and-mortar sales may be down, the Mall of America in Minnesota reported that 2,500 people were in line before opening. The research firm had previously reported Cyber Monday sales of $3.45 billion a year ago but restated that figure to $5.6 billion following a change in its methodology of calculating sales.
According to Adobe Insights, 61.1 per cent of shoppers' visits to retailers' websites were for mobile devices, including smartphones and tablets.
Businesses are expecting a big holiday shopping season, fueled by a 4.1% unemployment rate, which is the lowest in 17 years. However, Black Friday's record $5 billion in online sales reflect consumer confidence is at its highest point.
Analysts are predicting that Cyber Monday is expected to be the largest online shopping day in history, with an expected $6.6 billion in sales, says the report.