Just in the past two years or so, we have witnessed retailers open earlier and earlier. It has gotten to the point where retailers are now opening at 5-6pm on Thanksgiving Day. Retailers lure customers from their feasts with good deals and nice sales. For some people, stores being open on Thanksgiving is a great thing because many of the deals are the same as they will be on Black Friday. Black Friday ads have been circulating for couple weeks now and there are some great deals out there, such as Best Buy Co Inc (NYSE:BBY)’s deal of $299 for a 50 in Panasonic HDTV.
Black Friday is roughly a little over a week away and we are seeing a pick up in holiday sales forecasts and such, some are more realistic than others, but what if someone told you that there is a better shopping day than Black Friday? According to Kyle James of Ratherbeshopping.com, “people spend more money on Cyber Monday than they did on Black Friday. It’s a trend that is going to continue this year.” “A lot of stores will offer the same deals on Cyber Monday as they do on Black Friday”.
Black Friday: Holiday sales to see a 4.1% rise
According to the National Retail Federation, holiday sales are forecast to see a rise of 4.1%, which is quite good and optimistic. However, the forecast for online holiday sales is seen growing between 8% and 11%, this is massive. Retailers are realizing that more and more consumers are turning to the internet for their holiday shopping instead of braving the hordes and long lines. In order to be competitive and take on a larger growing area in retail, big box retailers are turning up the competition and attention to its websites and online deals. However, Amazon.com, Inc. (NASDAQ:AMZN) is still regarded as “king of internet” when it comes to shopping. However, Wal-Mart Stores, Inc. (NYSE:WMT) has said they will price match Amazon prices this year. Cyber Monday, alone, brought $1.7 billion in sales last year and this year it is expected to increase beyond that. Most deals will be the same as they are to the Black Friday deals, with some exclusions, but generally they will be very similar.
After Black Friday retailer competition heat up on Cyber Monday
As someone who likes to do shopping online, I definitely am excited to see retailer competition heat up on Cyber Monday. Getting the same or similar deals and pricing as you do with in-store on Black Friday is very encouraging and definitely makes me feel good about not having to go into the store. Additionally, with some retailers offering free shipping, we could definitely see further competition and better deals. Overall, with Cyber Monday deals said to be similar to Black Friday deals, enjoy your Thanksgiving with your family and hit the computers the next Monday after Thanksgiving for the shopping needs.