By Alejandro Freixes, CCNN Head Writer
The holiday shopping season is in full swing, as retailers scramble to bring in customers with mega discounts. The day after Thanksgiving, called Black Friday, kicks off the buying frenzy every year. Enormous lines stretch around the block as people jostle to get inside their favorite stores for out-of-this-world deals. This year, however, it was Cyber Monday (which takes place online, the Monday after Black Friday) that brought in the most promising results!
See, stores like Target and Macy’s love to get folks inside to take a look around at all the dazzling displays and bargain bin cheapness. However, since money is tight nowadays, customers often just go straight for the items they planned to purchase ahead of time. In fact, as soon as they snatch up the goodies on their checklist, they leave the store. This is bad news for retailers, who make more cash when shoppers find themselves attracted to unplanned buys.
Black Friday sales dropped 5% this year, as crowds zipped in and out of stores without letting their eyes wander. That’s bad news for retailers, who often make 40% of their yearly profits in the intense buying period from November to December. Cyber Monday, on the other hand, skyrocketed past the $2 billion mark, with a 17% increase in sales! People were more than happy to click away on websites and avoid the street traffic.
Featured image courtesy of Mike McCune on Flickr. Image of holiday shoppers courtesy of Jazz Guy on Flickr.