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Cyber Monday forecast: $1.42b in online sales
A bit of a warm spell may be evident in much of the US but that won't keep people from shopping from home - or the office or a playdate - on Cyber Monday. A new forecast out from Radium One predicts that 57% of American consumers will hit cyber shelves Monday, November 26 looking for some holiday finds.
Although some of the biggest crowds are expected to hit American malls and stores on Friday, November 23, one of the biggest expected shopping days will happen three days later and online (65% via PC, 35% via mobile). Cyber Monday - November 26 - is expected to bring more than $1.4 billion into retailer pockets this year as shoppers look for gifts to put under the tree according to Radium One.
This could be a record spending Cyber Monday. In 2009 $889 million was spent online Cyber Monday, that grew to $1 billion in 2010 and $1.25 billion in 2011.
Why are these people shopping online? To avoid the hassles of crowded malls, people taking items from their carts (3%) or fighting over the last Furby or iPad in a store (3%).
While one week isn't a lot of time to get ready there are some things retailers can do to make the most of the cyber crowds - namely adding those pesky social sharing buttons so that consumers can easily share new purchases, sales or coupons. According to Radium One 60% will be sharing Cyber Monday info via Facebook while 15% will chatter on Twitter. Consumers will look to the social space to find discounts (57%), read reviews (51%) and find gift ideas (47%).
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