So we're only a few hours away from the unoffical kickoff to the online holiday shopping season, better known as Cyber Monday. Last year, the National Retail Federation estimated 72 million shoppers visited the Internet to start their online holiday shopping. With an estimated 7% increase in Black Friday shopping from last year, will we see the same increase on Cyber Monday? With over 80% of retailers expected to offer online deals on Monday, I believe we will see a dramatic increase in retail traffic for the day. Expect around 75 million shoppers on Cyber Monday.
How will this affect the rest of the shopping season?
This will remain to be seen, but if the predictions are correct that retail numbers will be equal to last year, don't expect any record setting activity for the remainder of the shopping season. We may see a surge in shopping on Cyber Monday, then a two week lull, so retailers will be forced to discount their merchandise deeper and deeper. The last weekend before Christmas will be a record setting weekend, but will it be enough?
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