‘Cyber Monday’ Follows ‘Black Friday’by Tim Manni
The National Retail Federation offered a rosier outlook for overall holiday spending, predicting that retail sales will rise 2.2 percent from a year ago – which would still be the slowest growth since 2002. However, many analysts expect the period could show a rare drop in sales, and Web shopping is being hit along with brick-and-mortar stores. Last year’s holiday growth rate was 19 percent for online spending from the previous year.
A more complete sales picture of how the Thanksgiving shopping weekend fared will be known by Thursday, when the nation’s retailers report November same-store sales, or sales at stores opened at least a year. [...]
Sales during the day after Thanksgiving rose 3 percent to $10.6 billion, according to preliminary figures released Saturday by ShopperTrak RCT Corp., a Chicago-based research firm that tracks sales at more than 50,000 retail outlets.
Retailers are, of course, doing their best to inspire more shopping during this year’s all-important holiday sales season:
The term “Cyber Monday,” coined by the trade group the National Retail Federation in 2005 to describe the Monday after Thanksgiving, has in the past been the unofficial kickoff for the online shopping season. But with more retailers advertising their deals ahead of time, and as more consumers have high-speed access at home, the day has lost its luster.
That may be. But given the array of sales available from pretty much every online retailer, savvy consumers can find some pretty enticing deals — and frugality is ‘in’ this year.