Yahoo Finance Cyber Monday: Why You Already Missed the Best Online Deals
Black Friday isn’t the only retail marketing gambit losing its mojo. Cyber Monday isn’t what it used to be either.
While the Monday after Black Friday has traditionally been the biggest online shopping day of the year, more consumers now are making online purchases earlier.
Only 121.3 million are expected to shop online today as consumers return to work after the Thanksgiving holiday and squeeze in some online shopping in the office. But that’s down from 126.9 million last year and the first year-over-year decline since 2007, according to a survey by the National Retail Federation.
Related: 5 Ways to Avoid Identity Theft Online During the Holidays
“Unlike ten years ago, we live in a world in which you can shop anywhere at any time. It’s no longer about one day, but a season of digital deals,” NRF President and CEO Matthew Shay said in a statement.
Already, 103 million people shopped online this Thanksgiving weekend, more than the 102 million who hit up retail stores.
The early-bird online shoppers may be on to something. An October analysis by Adobe predicted that the best online deals of the season would appear on Thanksgiving Day, with an average discount of 26 percent.
Related: Can Social Media Sites Beat Online Retailers on Cyber Monday
Total online spending is expected to reach $83 billion, an 11 percent increase over last year, with sales today hitting $3 billion for the first time.
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