Cyber Monday Analysis, Expectations
Contact: Nory Jones, 581-1971
Nine in 10 retailers are telling the National Retail Association’s survey partners they are planning special Cyber Monday sales and specials, with plenty of free shipping, on what has become the biggest online shopping day of the year.
On Cyber Monday, the first Monday after Thanksgiving, as many as 54.5 percent of the workforce, or 70.1 million Americans, plan to shop online from work, according to the NRF.
UMaine associate professor of management information systems Nory Jones of the Maine Business School is available to discuss the economic impact of and social trends contributing to the burgeoning retail phenomenon known as Cyber Monday, considered to be in its fifth official year.
As Black Friday traditionally kicks off the frenzied holiday shopping season, Cyber Monday is the online equivalent, and also can mean boom or bust for many retailers as shoppers hit their keyboards instead of the aisles.
Cyber Monday traditionally offers good deals for consumers and robust sales for online merchants. According to Jones, the vast majority of the nation’s retailers are planning specials for online shoppers today. The NRF predicts neatly 90 percent of retailers will offer exclusive Cyber Monday bargains, up from just more than 70 percent last year. Total holiday sales nationally are projected to rise 2.3 percent, the NRF says.
Consumers are becoming more astute about bargain hunting, Jones says, and price comparison has never been easier.
“Many consumers are turning to Internet sales, especially if they didn’t get what they wanted on Black Friday,” says Jones. Others use the days following Thanksgiving to browse stores, and then turn to the Internet for price comparison.
Jones is available to discuss Cyber Monday and consumers’ increasing reliance on the Internet for shopping. She can be reached by telephone at 581-1971 or by email at njones@maine.edu. Please contact George Manlove at 458-9296 for assistance reaching Jones.