Consumers expected to spend $10 billion on Cyber Monday
Nov. 29 marked Cyber Monday. A new poll found that 91% of Americans were expected to buy something online this holiday season. Consumers polled said that they will spend an average of $100 to $300.
Retailers are hoping for a boom since online sales were down on Black Friday.
Companies like Dick’s Sporting Goods, Kohl’s, H & M and Best Buy all have Cyber Monday deals.
Websites like PriceGrabber.com can help consumers streamline the process of shopping online. PriceGrabber will help comparison shop several sites at once.
There is also JoinHoney.com which provides access to thousands of online coupon codes.
Some economic think tanks say that $10 billion will be spent on Cyber Monday this year.
But there are still many shoppers who like to go to the stores in person and not shop online.
“You can see what you’re going to get. You can feel the clothes, try them on,” says Gladys Lugo. “You don’t know when you buy online if you get the perfect stuff.”
Supply chain issues that have caused some goods to be stuck in containers at ports, forcing people to wait longer for gifts, were thought to be driving people back to stores. But some say that online deals can be tempting.
“There are better deals online, but it takes a while to get there,” says Jhoanna Moscoso.
The supply chain issue is creating demand for gifts earlier this year. Retailers reported seeing people buying gifts in October, and not waiting for Black Friday or Cyber Monday deals.