Holiday Forecasts Jolly for E-Commerce
Oct. 21, 2013
Cyber Monday has beaten out Black Friday for the first time as the most popular shopping day of the holiday season, according to consumers in the most recent American Express Spending & Saving Tracker. Fifty-five percent indicated they will be more likely to shop online on the Monday following Thanksgiving versus 52 percent who said they expect to do their shopping in stores on the traditional day for deals the day after the holiday. Overall, the report said, consumers expect to spend around $400 more this year than last.
Shopping via mobile device is also expected to surge this year with 51 percent saying they will use mobile devices to shop (up from 32 percent last year), 25 percent predicting they will browse for gift ideas on their phones and tablets (up from 18 percent) and 20 percent confident they will use their mobile devices to compare prices with barcode scanning apps (up from 12 percent in 2012).
The data from American Express tracks with numbers released recently by the National Retail Federation. The NRF’s Shop.org unit predict sales in November and December will grow 13-to-15 percent from last holiday season to as much as $82 billion.
“Online and mobile continue to be a leading area of growth for retailers,” said NRF President and CEO Matthew Shay. “In this economy savvy, cost-conscious consumers go to the web to do their research and get the best bang for their buck. In addition to researching what their peers are saying online about products and gifts this holiday season, consumers will use the buy online pick-up in store option, retailers’ apps and mobile websites to find something special for their loved ones.”