Cyber Monday Seeks Record as Shoppers Binge
By Christina Cheddar Berk, CNBC News Editor
NEW YORK (CNBC) -- Take door-buster specials, add early opening hours, and mix in a good measure of pent-up demand and you have a recipe for a strong start to the holiday shopping season.
And retailers liked it so much, expect to see a version of it -- albeit smaller -- today, as a record number of shoppers are expected to go online to snag Cyber Monday deals, which at some retailers, began Sunday night.
Black Friday sales are estimated to have risen 6.6% from the same time last year, according to ShopperTrak, a Chicago-based company that tracks mall traffic. That estimated $11.4 billion in retail purchases represents the biggest dollar amount ever spent on that day.
The National Retail Federation estimates 226 million shoppers visited stores and Web sites over the Black Friday weekend, up from 212 million last year.
More from CNBC
Why New Home Prices Are Still Under Pressure
Why Facebook Won't Challenge Google in Search
Bove: Why I Was Wrong About Bank Stocks
Cyber Monday has become more significant each year. Retailers embraced it and are offering bigger and bigger discounts online -- and more and more shoppers are coming for them. That is what is what makes the event, which initially began as marketing gimmick to promote online shopping, more important each year. According to Dealnews, last year Black Friday had only 5% more deals than Cyber Monday did, a drop of 5% from the prior year. And the deal gap should continue to close.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV