Stores were busy on Black Friday, as deals lured recession-weary consumers out of their homes. The spending was cautious, but the crowds and transactions signaled strength.

Nonetheless, retailers are still concerned that the momentum is only temporary. With consumer spending still under pressure because of high unemployment, there's a risk that holiday shopping may not reach the levels the stores would like to see. The day after Thanksgiving is usually the hottest of the year and can account for close to 20% of annual retail sales.

Traditional retailers haven't exactly embraced online sales channels. Sure, they all have websites, and they sell varying amounts of merchandise through them, but they've been slow to tap into the potential. When I was watching the space as an analyst at a major consulting firm (admittedly, back in 2007), many retailers equated a website to a new store opening. Finally, however, this industry is starting to see the potential of this venue, particularly when it comes to tracking consumer behavior.

When the CEO of Macy's (NYSE: M), Terry Lundgren, says that online sales are only good for 6% of last year's total sales, it's a hint. The translation: "We focus on where the revenue is" is much different from "We focus on where the revenue could be." Aeropostale (NYSE: ARO), on the other hand, sees the upside of playing in the online space, which is where it saw revenues spike 85% last year. Aeropostale has seen increases in traditional venues too, but nothing like what it's realized on the web.

So, maybe there's something to this internet, after all.