Now that Black Friday has come and gone with the usual fanfare, economists are looking to what has become known as “Cyber Monday” will bring an onslaught of online shopping with eight out of ten online retailers offering promotions on that day. The deals aren’t just limited to Monday. Before the big day, more than 90% of online merchants will be offering promotions over Thanksgiving weekend.
A survey by comparison shopping site PriceGrabber found that 39% of consumers who plan to shop over the four-day Thanksgiving weekend said they intended to do so on Cyber Monday. That’s up 2% from last year.
It’s a trend analysts are calling “couch commerce” where more people want to spend money online from the comfort of their homes rather than head out to the shops.
“If you think about when the concept of Cyber Monday was first born, it was a time when people had dial-up access at home. It was the office place or the workplace where they could access sites,” Manz said. “Now everyone has broadband access. People have tablets, they’re able to get online earlier and at home, and retailers are trying to capture that mind share.”
According to an IMB Coremetrics report, 15% of web traffic in the U.S. in November will stem from smart phones and tablets rather than PC’s. To tap into that traffic, retailers are rolling out the deals early this year, said Manz.
According to a Shop.org survey, nearly 60% of workers will turn online to shop for holiday gifts, and many of the retailers are waiting for Monday to push out some of the best promotions.
“Consumers have come to expect the absolute best online holiday deals on Cyber Monday,” Pam Goodfellow, BIGresearch consumer insights director, said in a release. BIGresearch is a marketing research firm that conducts surveys for the National Retail Federation and provides analysis of consumer behavior.