Cyber Shoppers Click Aside Recession Worries

Ad Feedback

WASHINGTON - Retailers are hopeful for what appears to be an encouraging start to the holiday shopping season.

Sales are up slightly and online sellers are crossing their fingers for a profitable Cyber Monday. The question is, are Americans - still hurt by the recession - in much of the shopping spirit?

The crowds, frenzy, and long lines of Black Friday are nothing more than an afterthought now. Bargain shoppers are taking their foot traffic online. An estimated 96.5 million Americans will point and click away for deals on Cyber Monday.

Our dot-com visits have influenced 50 percent of our sales inside the store," Best Buy CEO Brian Dunn said.

Over the weekend, Black Friday sales rose over last year from $534 million to $595 million ... an 11 percent increase.
    
Despite a dismal economy, online retailers are expecting a 3 percent increase this season.

"Retail took it on the chin the last two years, and recognizing that, any growth we can see is really good news," NPD Chief Retail Analyst Marshal Cohen said.

According to preliminary Black Friday figures, sales increased by half a percent, with more people hitting the stores than last year.

"The weather outside if frightful, but the sales insides are delightful," one shopper remarked.

"It was actually a very good sign in terms of traffic and interest in the store, and there are a lot of shopping bags that I see as well," Terry Lundgren, Macy's CEO, said.

But this year, more people are on a tighter budget.

"I will be spending less this year," one shopper said. "I just don't think it is necessary to drain the bank."

"Our budgets are a little stricter, because there is no excess money," another said.

Last year, Cyber Monday was the third biggest shopping day online. This year, online merchants are looking to lure bargain shoppers in new ways, especially through social networking sites.

More retailers, like Wal-Mart, Best Buy, Target and Sears, are using Facebook and Twitter to notify customers about their deals ... which are no more than a click away.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

John Jessup

John Jessup

CBN News Anchor

John Jessup serves as the main news anchor for CBN, a position he assumed after 10 years reporting for the network in Washington, D.C. His work in broadcast news has earned him several awards in reporting, producing, and coordinating elections coverage. Follow John on Twitter @JohnCBNNews and "like" him at Facebook.com/John.V.Jessup.