Cyber Monday Seeks Record as Shoppers Binge
The power of those deals was very persuasive. Stores that extended their hours this past weekend gained 22% more business, Cohen said.
"That's market share they're taking from someone else," he said. "The stores that didn't participate in the new extended hours lost on average 8%. So what that means is a new tradition is being born right in front of our eyes. Look next year for more stores to participate in these earlier and longer hours."
Shoppers also are expecting there to be more deals as Christmas draws closer. In the Deloitte survey, 39% of all holiday shoppers surveyed say they will likely make their purchases later this holiday season because they expect better promotions.
One for you, two for me
Needham analyst Christine Chen said she expects that some of the higher spending came from shoppers who were buying items for themselves on the cheap.
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