‘Cyber Monday’ seamingly is becoming “Cyber Week” for many retailers looking to take advantage of this shopping season. Years ago, Black Friday was the day that shoppers dreamt of, in order to get the best holiday shopping deals. As the internet has grown though, so too has the prominence of internet shopping.
While final Cyber Monday sales numbers are not all in yet, estimates show that we should be looking at an astounding record-setting $3.39 billion in sales — a number that exceeds this year’s Black Friday sales by around $50 million, and last year’s totals by a significant margin as well.
The increase in Cyber Monday sales this year is nothing out of the ordinary, but in conjunction with an even larger jump in Black Friday sales, year-over-year, it goes to show that the economy may not be as bleak as some people feel. The election year political battles have probably contributed to the idea that the economy is faltering, but in reality the holiday shopping season is one of those indicators that don’t lie….. Right?There is still a lot of debate on whether Cyber Monday and Black Friday sales are a good indicator of overall economic health. Some economists say the increase in spending is a great determinant factor and indicator of such, but others claim that it’s not really all the reliable in determining the health of the economy as a whole. An interesting column, written by Jayne O’Donnell of USA Today in 2011 provides details of this argument.
“The previous top weekend was in the depths of the recession in 2008,” the column explains.
Regardless, we know one thing for sure. Retailers must be enjoying this holiday season more than last, with retail sales jumping significantly year-over-year.
[image source: thewwwblog.com]