Cyber Monday Deals Likely to Lead to Busiest Online Shopping Day
Ryan McVay/Thinkstock(NEW YORK) — Americans are returning to work on Monday after the extended Thanksgiving weekend just in time for Cyber Monday, the biggest online shopping day of the year.
Shoppers are expected to spend more than $1.5 billion on Monday, up 20 percent from last year, according to research firm comScore.
But with online sales that started as early as Thanksgiving Day this year, Cyber Monday might be losing some of its luster.
“Look for Cyber Monday to be important, but not necessarily getting that same growth rate that they’ve had in years past,” retail analyst Marshal Cohen said.
“There were so many deals being offered online, starting from Wednesday and all the way through the weekend and now some of the money has already been spent,” he added.
A record $59.1 billion was spent at U.S. stores and websites this past holiday weekend, according to the National Retail Federation.
Online sales on Thanksgiving Day, traditionally not a popular day for online shopping, rose 32 percent from last year to $633 million, according to comScore. And online sales on Black Friday were up 26 percent from the same day last year, to $1.042 billion. It was the first time online sales on Black Friday surpassed $1 billion.
The National Retail Federation says 247 million shoppers hit stores and websites to cash in on savings during the holiday weekend, up 9 percent from last year. Nearly two-thirds of those shoppers went to stores or hit the web on Black Friday.
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