This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

The survey, which interviewed more than 3,800 adults, reports that the average holiday shoppers spent $398.62 over the Thanksgiving weekend, up from $365.34 last year. Conducted by BIGResearch, the study also found that online spending was significant, with shoppers shelling out an average of $150.53 on the web, or 37% of their total weekend outlay.

And the spending binge wasn't isolated to just Friday. The shopping started Thursday, as record number of consumers purchased items on their smartphones and tablets, presumably at the Thanksgiving dinner table, or headed out to early openings at stores such as Toys 'R Us and Wal-Mart (WMT), which didn't even wait until midnight Friday to begin their Black Friday deals. The shopping should continue today, as record numbers of shoppers are expected to go online seek Cyber Monday deals.

Deal gap closing
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.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs