Wealth Finance

Happy Cyber Monday! What, you didn’t know today was a holiday? Okay, it’s not really a festive one, but if online retailers — who created the term five years ago to goose post-Thanksgiving ecommerce numbers — have their way, you’ll spend much of today clicking through “Buy” buttons to supplment what you bought during Black Friday weekend. Last year, online merchants brought in $887 million on Cyber Monday. Despite the hype, Cyber Monday isn’t the biggest day of the season for online shopping, or for bargains. Every year since the term was coined, sales have been higher on days later in December, usually due to last-minute deals, or the closing of the end of the period during which buyers can get free shipping on gifts that will arrive before Chirstmas. Last year, online merchants took in $913 million on Tuesday, December 15th. In a recent Consumer Reports poll, just 17 percent of Americans said they plan to shop online today; more than half don’t expect to have their shopping finished until after the second week in December. So, if you have some free time today (or your boss isn’t looking), go ahead and browse the online aisles today. But also take the advice of Tod Marks, Consumer Reports senior editor and resident shopping expert.  “Retailers are desperate for sales and consumers are likely to see deep discounts extend into December.”   Fewer Americans plan to hit stores over Black Friday weekend [Consumer Reports]

Retailers hope Cyber Monday keeps shoppers buying [Reuters]

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