Online sales for this year’s Black Friday are record-breaking. Could this year’s cyber Monday keep up the trend?
Cyber Monday has been getting bigger and bigger.
“Cyber Monday started in 2005 and less than $500 million in sales. Last year, in 2017 it was over $6.6 billion in sales,” said Chris Burns, the financial planner & host of “More Than Money.”
Retailers are adapting to the electronic age to better serve their customers.
“You see the brick and mortar retailers are doing a buy online, pickup in store or buy in store and deliver at home, so they’re using digital strategies to serve customers that want to be served,” said Matthew Shay from the National Retail Federation.
According to Adobe Analytics, there has been a sharp increase in online sales compared to last year. Online sales on Thanksgiving Day increased by 29 percent, reaching $3.7 billion, and on Black Friday, online sales increased to a record-making $6.2 billion, which is a 24 percent increase.
“Go straight to the retailer’s website. Don’t just google flat screen TVs because the ads that pop up could be malicious—they could be out to harm you,” said Burns.
