56°F
Sponsored by

Cyber Monday Craze Continues to Grow

"I think a lot of retailers recognize that people like the Black Friday deals but not all of them want to go out and you know deal with the crowds," said Stacey McGee, Assistant Professor in Business and Accounting at Hagerstown Community College.
HAGERSTOWN, Md. - The Black Friday chaos is over but the online shopping frenzy is just beginning. It's Cyber Monday.
 
"I think a lot of retailers recognize that people like the Black Friday deals but not all of them want to go out and you know deal with the crowds," said Stacey McGee, Assistant Professor in Business and Accounting at Hagerstown Community College.

Business experts say about 130 million people will be logging in for Cyber Monday deals and for some retailers, it's Cyber Week!

"Even throughout, the weekend and on Black Friday, a lot of online sales, a lot of people are getting Black Friday sales but not going out to the stores to do it, they're getting it you know online so that's kind of just they're all blurring together now," said McGee.

For retailers, this online shopping day is just as important as Black Friday

"We prepare for it, just like we would prepare for Black Friday," said Matt Dawson, General Manger at the Hagerstown Best Buy. "It's just a different type of consumer when you look at it. Our consumer likes to shop from home and this gives them the ability to do so without having to come in and deal with the crowds that you see on Black Friday."

This year, the National Retail Federation expects Cyber Monday to bring in some $2 billion in online sales. That's a 15 percent increase from last year, making it one of biggest online shopping days of the year.

The online craze is even expanding to small businesses.

"Most of it is still coming from the big boys like Amazon and Walmart and stuff, but it is also way for small businesses to remain competitive because they can reach customers that they couldn't have reached before," said McGee.

And with six less days for shopping this year, retailers expect more customers to finish their holiday shopping from home, one click at time.

And even though Cyber Monday has grown economically, experts say it still only equals about 15 percent of Black Friday sales.
Page: [[$index + 1]]
comments powered by Disqus

More Headlines