Although Black Friday has been the unofficial shopping holiday for many years, more consumers say they will turn to Cyber Monday as their main day for holiday gift grabbing.
According to a PriceGrabber.com survey, 41 percent of shoppers said they plan on shopping on Cyber Monday, up from 37 percent last year and 33 percent in 2021. The majority of those who said they plan to shop on the internet discount day will buy more that day than on Black Friday.
The main reason people said they plan to shop on Cyber Monday is for the one-day deals, discounts and free shipping, as 83 percent of shoppers indicated this as motivation.
As for where they will shop, 83 percent said they would do so at home, while 11 percent will purchase gifts at work and 6 percent will shop from a mobile device.
“Industry forecasts predict growth in online holiday sales this season, and our survey data is in line with this trend, revealing strong consumer interest in online shopping on Cyber Monday to take advantage of retailer incentives,” said Edward Mann, vice president of marketing and analytics of PriceGrabber.com. “While most consumers plan to shop from a home computer on Cyber Monday, we anticipate that mobile shopping will continue to gain momentum, allowing even busy commuters to make the most of what retailers are sure to offer on Cyber Monday.”
Shopping on Cyber Monday can help families get significant discounts on items that will help them avoid breaching their holiday budget and having to dip into their emergency funds to cover bills after the holiday season is over. However, it is important to tackle this shopping day the right way in order to save the most.
Buy Gift Cards From Trusted Sources – When buying for the person in your family that is difficult shop for, you may lean toward buying them a gift card. Department of Consumer Protection commissioner Raymond Moore told NBC Connecticut it is important to only buy gift cards from trusted sources. If you are buying a gift card for a specific store, make sure you buy the card from them. Avoid buying them from online auction sites as they could end up being fake.
Know Where You’re Shopping – When shopping on Cyber Monday, it is best to stick to websites that you know and have used before. If you get the feeling that a website is sketchy, it is probably smart to look for the item in a different place.
Find Out The Terms And Conditions – Before purchasing an item online, you should check the terms and conditions. This will let you know if you are able to return the item for a refund, the shipping costs and if there is a restocking fee if you need to return the gift. Being informed of the terms and conditions could help save you money.