Cyber Monday Continues to Attract Consumers
The Wall Street Journal is reporting that Cyber Monday sales are expected to pass $900 million this year and could reach $1 billion, which would be the first time ever that online sales have topped that mark on a single day, said comScore Inc. Last year, Cyber Monday sales were $887 million, and the biggest online sales day ever was $913 million on Dec. 13, 2009. This upswing means that Cyber Monday could be the biggest day of online sales of all time. WSJ also reports that Cyber Monday follows a Black Friday weekend that saw higher consumer spending than a year ago, according to the National Retail Federation. The trade group said the average shopper spent $365.34, a 6.4 percent rise from last year. Retail consulting firm ShopperTrak said that sales rose only slightly on Black Friday itself but did set a record. While not always the biggest day for online holiday purchases, Cyber Monday ranks high and serves as a showcase for retailers to offer special Web discounts and build online momentum.
While we're glad the economy is being stimulated, we wonder how many people are digging themselves further into debt by taking advantage of these cyber deals. We've said it before and we'll say it again: Not everyone is in a recession.
Read more at the Wall Street Journal.