September 25, 2022

Businesses Anticipating A Possible Record Breaking Cyber Monday

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Retailers are hopeful that the good momentum from Black Friday will continue through on Cyber Monday

Black Friday was reasonably good to retailers this year, with a busy day after Thanksgiving that led into a busy weekend. According to the National Retail Federation, consumer spending was up 6.4 percent this year over last.

Many retailers are looking for the momentum to continue through Cyber Monday, offering a number of carry over and special deals for Monday’s online shoppers. This includes both online only retailers as well as brick and mortar stores who have extended their reach to consumers through company web sites.

Cyber Monday is the nickname given in the last few years to the Monday following Thanksgiving Day. It’s primarily focused on online shoppers.

One group of industry experts, ComScore Inc., thinks this year’s Cyber Monday could be the biggest single online sales day in history. The previous was recorded on December 13, 2009, coming in at $913 million. ComScore is anticipating a day’s online sales in the $1 billion range.

Almost nine out of every ten retailers are offering customers promotions specifically for Cyber Monday. This is roughly the same number we saw last year, however the types of promotions being offered are more aggressive than in years past. More door buster type offers are being promoted as well as many more retailers offering free shipping.