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of Cyber Monday One big factor is that more people shop from work Nov 26, 2007
Today is Cyber Monday, the unofficial kickoff of the holiday shopping season on the web. While there have been dour predictions for offline holiday spending this year, hurt by the housing market crisis and skyrocketing gas prices, online spending looks once again to be rosy, with forecasters predicting a 20 percent increase over last year, to nearly $25 billion. Much of that will be spent at work, where more and more people are doing their shopping. Indeed, a large part of why the online holiday shopping season does not kick off until today is that many offices are closed on Black Friday. According to a study by BIGResearch for Shop.org, slightly more than half of respondents plan to shop at the office this year, including 57 percent of male respondents. They will find a lot more bargains today than last year, as the e-tailing community further embraces the two-year-old concept of Cyber Monday. Some 72 percent plan to offer some sort of special promotion today, from free shipping to one-day sales, up from 47 percent two years ago. Scott Silverman, executive director of Shop.org, the digital division of the National Retail Federation, talks to Media Life about online spending forecasts, shopping at the office, and why Cyber Monday is not actually the year’s biggest online buying day.
Who's most likely to shop at the office, demographically speaking, and why? The younger people doing shopping this way makes sense. These are people that grew up with the internet and you’d expect them to do more shopping online.
You found that the internet will influence 30.2 percent of all holiday sales this year. What does that mean and how much will that number keep growing?
This year, the majority of online retailers will feature Cyber Monday promotions, which is way up from just two years ago. Why are we seeing this change? While retailers knew there was a surge in sales that day, just 40 percent were running promotions on that day. Then it really took hold and repeated in 2006, and I think that’s how we got to such a huge number of retailers in 2007.
A large chunk plan to offer free shipping on all purchases. Is this becoming more common for the holidays, and does it really help draw in consumers?
What sort of dollar total do you expect for Cyber Monday?
Is it the biggest online shopping day of the year, or does that actually belong to another day?
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