The holiday season is in full swing. While some people started shopping even before Thanksgiving, momentum really picks up after Thanksgiving. Of course, there’s Black Friday, which has been a big shopping day for many years. It’s seen its ups and downs, and still remains a pretty strong day for shoppers. Then there’s Small Business Saturday, to support the local businesses. And now, there’s Cyber Monday, which just so happens to be today!
Cyber Monday Predictions
According to FitSmallBusiness, Cyber Monday is expected to be the season’s and the year’s biggest shopping day. Although many businesses launched online sales earlier, Adobe predicts a record-breaking $11.2 billion in spending today. That’s an increase of 5.1% year over year.
The number of people who plan on shopping today has increased 42% since just last year. The study found 64% of people were planning to shop today. And when it comes men versus women, more women will be shopping the sales. With 69% of females shopping versus 58% of men.
Top Retailers and Spending
And when it comes to the top retailers, it’s no surprise to see Amazon at the top of the list. In fact, 80% of people plan to visit the site for Cyber Monday. Target and Walmart were next on the list. Kohl’s, Best Buy, Old Navy, Costco, and Macy’s were also common answers.
As for spending, 66% do plan to spend more today than last year. But some of that spending could be due to inflation.
What about discounts? FitSmallBusiness predicts much higher discounts than last year, with a record high around 32%. These discounts will be on everything from computers, electronics, toys, apparel, appliances, and more.
While some shoppers were thinking ahead this year, and started their holiday shopping by taking advantage of Amazon Prime Day(s), there are still many of us who haven’t even started our shopping yet. But, if you have the time… and won’t get caught surfing the web for deals at work, it looks like you could really benefit from some of the Cyber Monday deals!