Amazon.com (NASDAQ: AMZN) may have won Black Friday, but the day's cultural significance is over, broken by the pandemic, supply chain, and runaway inflation woes which made retailers push for early access to holiday deals this year. Numerator found online sales continue to account for a larger percentage of holiday purchases, some 38.1% of the total for Black Friday. That's important because Morgan Stanley estimates Gen Z will overtake millennials as the largest consumer demographic by 2034, which is likely why Walmart and others have been making a play for their attention.