Tech & Biz

Cyber Monday shoppers search the web for deals

by Alfred Hermida | November 30, 2008 at 01:08 pm

332 views | 64 Recommendations | 5 comments

After the rush in the US on Black Friday, shoppers are now gearing up to do the same thing online.

Cyber Monday is the digital counterpart of Black Friday. The term was coined in 2005 for the Monday following Thanksgiving.

According to the National Retail Federation, consumers have flooded sites on Cyber Monday and come to expect robust promotions and specials that day.

The Federation runs the CyberMonday.com shopping website and runs the engine underneath it.

Now in its third year, CyberMonday.com has grown to 623 retailers advertising more than 20 million products for sale. Unique visitors to the site numbered 1.5 million last year, up from 300,000 in 2006.

Substantially more growth is expected tomorrow as more and more Americans continue to fulfill their shopping needs via the Internet.

The advantages of shopping online are clear - no crowds and the ability to compare and contrast prices.

For some, online shopping can be a lifesaver. No crowds to push through. No checkout lines to stand in. No gas spent driving to and from busy malls.

"I would rather do it all online, but I can't quite avoid the stores" said 33-year-old Waterford resident, Jill Jones. "(Online shopping) isn't as painful as the crowds."

Last year, shoppers spent more than $700 million during Cyber Monday and retailers will be hoping for another bumper day.

Free shipping is virtually a given, and many are offering financing options such as no payments for 90 days and deals like $10 off purchases of $50 or more, along with traditional discounts on products.

"Last year, people were spending a lot more money on gifts and products," says Jeff Wisot, vice president of marketing for online retailer Buy.com. "With the economic challenges arising this year, people are definitely spending less."

Black Friday and Cyber Monday marked the kick-off for the the holiday season.

But with a shaky economy, job losses and a prolonged housing slump, consumer spending is down, meaning retailers will be trying even harder to tempt shoppers to spend, spend, spend.

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jessica.lam

at 13:10 on November 30th, 2008

- hadn't heard of Cyber Monday till your story.

OffTheHooks

at 16:08 on November 30th, 2008

A "Gift Guide" of sales and free shipping between black friday and cyber monday on Etsy, an online marketplace where artisans can showcase and sell their work. Hundreds of Etsy sellers put special sales on for the weekend.

OffTheHooks has contributed a photo to this story.

Jon Azpiri

at 21:45 on November 30th, 2008

Thanks for the great wrap-up of Cyber Monday. For more stories about Cyber Monday and holiday shopping, visit NowPublic's Shopping channel.

mtippett

at 09:54 on December 1st, 2008

This is also now one of the hottest twitter tags.

slickdeals -77 (not verified)

at 19:56 on January 30th, 2009

Last year, people were spending a lot more money on gifts and products," says Jeff Wisot, vice president of marketing for online retailer Buy.com. "With the economic challenges arising this year, people are definitely spending less