Reports from Thanksgiving weekend carried good news: promotions and special deals persuaded consumers to open their wallets on Black Friday and Cyber Monday. Americans’ willingness to buy could indicate a subtle turn-around among recession-weary consumers- a trend that could translate to better economic conditions down the road.
On Thanksgiving Day and Black Friday, online shoppers spent 15% more than they had a year earlier. On Cyber Monday, they spent 20% more than the previous year’s figures.
Free shipping offers and deep discounts are credited with spurring consumers to shop. Online merchants, who account for 8-10% of retail sales, are steadily improving sales tactics that encourage impulse buys, such as time-limited offers. They have also been taking advantage of social media sites, like Twitter, to advertise their specials.
Online retailers are hopeful that consumers will continue spending until Christmas arrives. As shipping deadlines for Christmas delivery near, there is usually a sharp boost in shopping activity.