Black Friday has come and gone. With it comes negative stories about violence in shopping malls, insane crowds, and speculation about disappointing sales. The economy is expected to take the holiday shopping season down with it, as many expect a downward trend in holiday shopping. But there is one more chance for sales to turn around with one last big shopping day. Cyber Monday could be just the medicine that stores need to get back on track.
Cyber Monday was coined in 2005 as an alternative huge shopping day to Black Friday. Unlike Black Friday, where people rush into malls and kill each other to buy their goods, Cyber Monday has an influx of shoppers purchasing their gifts on store websites.
Online shopping has been a viable alternative for years, pioneered by Amazon and adapted by superstores. This year, Cyber Monday may be more important than ever to the economy.
With people not wanting to waste more gas this year, and wanting to avoid the mad violent rush of malls, online shopping is more appealing than ever.
Stores and outlets are anticipating a big Internet rush for Cyber Monday, offering deals and bargains on their websites. Sales have been big in past Cyber Mondays, but they could have even more of a boom this year, as people really need an easier time with their gift purchases.
It is predicted that online shopping sales total will increase by as much as 12% this holiday season. But overall holiday sales may only increase by over 2%, according to the National Retail Federation.
Black Friday did perform slightly above expectations, however, as it took some pressure off of Cyber Monday. Despite countless predictions that Black Friday would have disappointing numbers, sales actually went up by 3% compared to last season.
However, stores had to work overtime to increase bargains and slash prices to get the sales they needed. Various reports of violence and even death marred Black Friday further.
The holiday shopping season is still not out of the woods, as doom and gloom is still predicted and many superstores continue to have tough times
Cyber Monday will also be filled with special bargains, as 12% more online retailers are offering special promotions than last year. Bigger online shopping sales are expected in mid December, as last minute shoppers log on.
Sources
Detroit Free Press- “Missed Black Friday? Cyber Monday coming” www.freep.com/article/20081129/NEWS05/81129059/
New York Daily News- “Shop therapy! Black Friday sales up 3%” www.nydailynews.com/money/2008/11/30/2008-11-30_shop_therapy_black_friday_sales_up_3.html
Burlington County Times- “Tomorrow is Cyber Monday” www.phillyburbs.com/pb-dyn/news/112-11302008-1629780.html
