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.
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
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
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
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 Plus 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