Further sticking with the theme of past few posts....sharing an interesting article by Karen Frankel on Blockbuster Cyber Monday. She notes that the spending increased 22%, the largest jump on record. Ten million people bought products online, comScore says, gobbling up $1.25 billion in goods easily beating the online sales offered on Black Friday.
Given the chilly economy, this turnabout is something of a surprise. One factor may have been "austerity fatigue," says comScore's Vice President, Industry Analysis, Andrew Lipsman. Consumers were so hungry for a break from the ongoing constraints of the financial crisis that they indulged like chocolate addicts at a Godiva outlet. Shopping sprees at work, where buyers could avoid family members looking over their shoulders as they selected surprise gifts, accounted for half the dollars spent, comScore said. Consumers also had greater-than-ever-access to online promotions and searchable coupons. Over 550 merchants made special offers on Cyber Monday, including free shipping, hourly specials and exclusives, and sneak peeks of the hourly deals shared via email alerts.
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