11/27/2005

Online retailers await ‘Cyber Monday’

Filed under: — By Aviran Mordo @ 7:25 am

U.S. online holiday sales are expected to hit nearly $20 billion this year and should take off on Monday, when consumers return to work and their fast Internet connections after the long Thanksgiving weekend.

“Cyber Monday,” the term coined for the Monday after Thanksgiving, comes on the heels of the busy “Black Friday” shopping day when many brick-and-mortar retailers begin turning a profit.

The good news for online shoppers this year, is that “Cyber Monday” is becoming the Web shopping equivalent to “Black Friday” when retailers launch major sales and discounts to drive traffic, analysts said.

Consumers are seen spending $19.6 billion on non-travel goods on U.S. Internet sites during November and December, up 24 percent from $15.8 billion during the same period last year, according to comScore Networks.

Source: Reuters

 

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