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Are You Ready For Cyber-Monday?!
Cyber Monday, which would be November 28, 2005, the Monday after Thanksgiving, is quickly becoming one of the biggest online shopping days of the year, according to a report released by Shop.org/BizRate Research 2005 eHoliday Mood Study.
In 2004, 77 percent of online retailers said that their sales increased substantially on the Monday following Thanksgiving. This trend is driving serious online discounts and promotions on Cyber Monday for 2005.
According to the survey, the largest increase in Cyber Monday sales in 2004 went to the jewelry and luxury retailers, with 89 percent of websites seeing substantial increases in sales, and consumer electronics retailers at 86 percent.
“On Cyber Monday, consumers set their sights on surfing for holiday gifts and shopping online,” said Scott Silverman, executive director of Shop.org. “This year, online retailers will be capitalizing on the increased traffic by offering special promotions and discounts,” he said.
Researchers specializing in online sales, attribute the increase in web traffic to the faster and more secure Internet connections at work. Consumers, who were unable to complete their shopping over the Thanksgiving weekend, also are driving internet sales on Cyber Monday. Internet sales analysts also expect many consumers to shop on Cyber Monday from home after work or when their children are sleeping.
According to a recent Shop.org survey, conducted by BIGresearch, more than one third of consumers (37 percent,) or 51.7 million people, said they will use Internet access at work to browse or buy gifts online this holiday season. The survey found that more than half of young adults 18-24 years (51 percent) and nearly half of those 25-34 years (49 percent) will be shopping online during work hours. The survey also found that men (42 percent) are more likely than women (32 percent) to shop at the office.
Many online retailers are offering extra incentives to encourage people to shop online. According to the eHoliday Mood Study, 43 percent of online retailers plan to offer special promotions and discounts on Cyber Monday. Deals will range from free shipping, to gifts with purchase, to percentages-off.
Online retailers are also planning for large-scale promotions on Thanksgiving Day, when most retail stores will be closed. A Shopzilla survey found that 36 percent of online retailers will be offering special promotions and sales on Thanksgiving Day. Some will even be offering their Black Friday discounts one day early on their websites.
The consumer poll has a margin of error of plus or minus 1.0 percent. Shop.org is an association for retailers online. Founded in 1996, Shop.org became a division of the National Retail Federation in January 2001. The association’s membership includes interactive executives from store-based retailers, catalog-based retailers, Web-based retailers, and retail solution providers
