Cyber Monday to Buck Black Friday?
NEW YORK (
) -- Sick of lines, crazed shoppers and general Black Friday mayhem, more and more consumers are opting to grab bargains on
, according to the latest research.
A recent study by marketing specialist
Compete
revealed that more people are planning to shop on Cyber Monday -- the Monday following Thanksgiving -- than on Black Friday, generally considered the busiest shopping day of the year.Some 45% of survey respondents said that they will shop on Cyber Monday, compared to 37% who will be braving the crowds on Black Friday, the official start of the holiday shopping season.
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The National Retail Foundation NRF also noted that Cyber Monday is gaining momentum as a launch pad for online sales. Research from the NRF's Shop.org division estimates that nearly 90% of retailers will have special offers for Cyber Monday, up from just 72.2% in 2007.
With promotions such as free shipping to lure online shoppers, Cyber Monday will be bigger than ever this year, according to the NRF. Just under 50% of retailers will offer specific deals, up from 42.9% last year, and a growing number of retailers are planning one-day sales, said the NRF. The Federation also estimates that almost 63% of retailers will send promotions to shoppers through a special Cyber Monday email.
Target
(TGT) - Get Report
, for example, is e-mailing customers details of special Cyber Monday deals.
Best Buy
(BBY) - Get Report
is holding a two-day online sale on Sunday and Monday.
Apple
(AAPL) - Get Report
, however, is not waiting until Cyber Monday to start its own
. It kicked off its "special one day shopping event" on Black Friday, which encompasses a host of products and accessories. In addition to free shipping, Apple has cut the cost of its 8-Gbyte iPod Touch from $229 to $208. The tech giant is also offering the 16-Gigabyte Wi-Fi version of the iPad for $458, compared to its usual price of $499.
Despite the growing popularity of Cyber Monday, though, Compete predicts that the typical consumer will spend more money on Black Friday. Black Friday shoppers are expected to spend $353 on average, according to Compete, with Cyber Monday shoppers spending an average of $233.
"The increased spend is likely due to more people shopping for electronics, clothing, and toys and games on Black Friday than on Cyber Monday," explained Debra Miller Arbesman, a senior associate at Compete, in a recent blog post.
--Written by James Rogers in New York.
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