Technology

Cyber Monday Sales Could Reach $1.42 Billion

Analysts estimate this year’s Cyber Monday sales could reach $1.42 billion, setting a new record in the history of the holiday. Online sales will most likely boost this year because people will want to avoid cold weather conditions and crowded stores, the Associated Press reports.

Many customers are expected to queue for their favorite products on Black Friday, but a recent report suggests the number of online shoppers searching for Cyber Monday deals could be even bigger. As a matter of fact, the Internet has become people’s favorite means of shopping, especially since smartphones and tablets have made it even easier to purchase items online. According to analysts, 65% customers will use their PCs to buy products, whereas the remaining 35% will access the Internet on their mobile gadgets.

Online sales could reach an all-time record this year as statistics have shown that retailers could cash in $1.4 billion on November 26. In 2009, customers spent $889 million on products they purchased online, whereas the next year the amount of money grew to $1 billion. Even though there isn’t a very big difference between the sum of money registered in 2011, namely, $1.25 billion, and this year’s record, $1.4 billion, analysts feel they have many reasons to be optimistic.

There are several factors that seem to prevent people from shopping in stores during Black Friday, based on the answers provided by respondents. Apparently, Cyber Monday enables customers to stay away from crowded malls and the conflicts that usually arise during this time of the year. 3% of the respondents claim they are tired of people taking items out of their carts, whereas other 3% are afraid they might have to fight over the last Furby or iPad with other customers.

While stores will be less crowded this year than they used to be in the past, online retailers will have to look for new means of dealing with cyber crowds. They are now trying to allure customers by making use of various social networks. 60% retailers will resort to Facebook to share news about their deals, whereas 15% prefer to use tweets.

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Ronald Silva is one of our newest publishers.He currently lives in Toronto (Canada) with his family.Ronald covers the music and sports sections of DailyGossip.org. Over the past few years, Ronald has participated in various journalistic projects including some of which he started when he worked for a local newspaper in Toronto. Contact him at Ronald.Silva@dailygossip.org.

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