There’s nothing like scoring a great deal from the comfort of your own home. According to Jack Kleinhenz, chief economist for the National Retail Federation, who is also a professor of Economics at Case Western Reserve University, that’s exactly what close to 127-million shoppers will be doing on Cyber Monday.
“Technology has changed our ways and behavior of shopping,” said Kleinhenz.
Consumers who hold back part of their budget for the Monday after Thanksgiving won’t be disappointed; close to 98% of online retailers responding to a survey by Shop.org said they’ll be offering specific Cyber Monday deals that will include low prices and free shipping.
“The Internet has really changed our lives; it certainly has changed our shopping, especially at the holiday-time,” Kleinhenz said.
Research indicated the earlier consumers shop, the better chance they’ll have of snagging a bargain. Only 40% of Cyber Monday shoppers plan to be up bright and early; the rest of the crowd will play catch up while on a lunch break or sometime in the early afternoon.
Just what kind of deals can bargain hunters expect?
Macy’s has advertised buy-one-get-one-free on select women’s boots and 60% off on everything from clothing to comforters. Amazon promised deals on electronics, video games and DVDs. Target vowed to have no less than 75 e-doorbusters, free shipping and 15% off storewide.
Kleinhenz said 100-million people will be shopping over the Thanksgiving weekend but he said that will have no affect on Cyber Monday’s appeal.