Happy Black Friday! For the past three years I have braved the crowds and went out at midnight to shop my local outlet mall (“The Crossings” in Tannersville, PA). After getting home early in the morning, eating a turkey sandwich with leftover cranberry sauce and going to bed for a few hours, I got back up to shop the sales at the mall. Although I got some great deals, I noticed that this year the crowds were a little slimmer than in previous years. Could this be because of the unemployment rate and our still-looming uncertainty about the economy, or could it be because more and more consumers are getting more comfortable about shopping online?
“Cyber Monday” is the online equivalent to brick-and-mortar stores’ “Black Friday.” Cyber Monday is meant to target those who are shopping online while working the Monday after Thanksgiving with no prying eyes at home wondering what would be under the Christmas tree.
In an article from the LA Times, there are several sales predictions for this holiday:
“Shop.org, whose members tend to be bigger merchants, said a survey of 60 retailers showed 70% of respondents expected online sales to grow this holiday over last year.”
“A Nielsen survey found that 63% of people are planning to buy online this holiday, compared with 71% last year. Of those planning to shop online, 31% said they planned to spend more than $300, down from 42% last year.”
“Research firm ComScore, which tracks online spending, is projecting a paltry 3% growth in holiday spending online, to $28.8 billion from $28 billion last year. From Nov. 1 through Sunday, online sales ticked up just 2%, compared with a 4% decline in the same period last year.”
Did you shop today to take advantage of the Black Friday sales or will you be cyber shopping this coming Monday?