Early estimates suggest that holiday shoppers spent eight percent more over the long Thanksgiving weekend this year than they did in 2008. But that growth seems to have been powered more by a record-setting pace of online purchases--culminating in what's come to be known as Cyber Monday--than by Black Friday sales at brick-and-mortar stores, which were up only marginally. Is Cyber Monday destined to replace Black Friday as the biggest day in retail? (Watch a report about Cyber Monday deals that are still available)
Don't buy the hype: "Cyber Monday is a made-up marketing term that has been promulgated by journalists looking for an easy way to write about online retail," says Matthew Bandyk in U.S. News & World Report. Nowadays, "there is no reason why people wouldn't space their Internet shopping" out over their days off. "Couldn't we say the same thing about Cyber Tuesday, Wednesday, Thursday, etc.?"
"Cyber Monday is a fake holiday"
Cyber Monday has become economically meaningful: Out of the gate, Cyber Monday sales were up 43 percent over last year, reports Terrence O'Brien at Switched. That success "indicates that maybe Americans are not feeling the economic squeeze" as much as they were last year. No matter whether you bought on — or into — Cyber Monday, "that is unquestionably a good thing."
"Cyber Monday sales surge again"
Cyber Monday is for real—and will become Cyber Week: With so many retailers using discounts to get customers into their stores and to their sites, retail experts see no reason for the deals to stop at midnight tonight. "It's definitely ‘Cyber Week,'" says Sucharita Mulpuru, a retail analyst, in Crain's New York. Experts predict that strong sales as online shoppers sense that "now is a good time to go online" and do your holiday shopping.
"Forget Cyber Monday, now it's Cyber Week"
SEE THE WEEK'S LATEST COVERAGE OF BLACK FRIDAY:
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- How a degree from Duke University dashed my dreams of buying a home
- This is why you can't trust the NSA. Ever.
- Half the world's population lives in these 6 countries
- Innocent before proven guilty? The bizarre bipartisan rush to clear Rick Perry
- Why you should stop believing in evolution
- ISIS and the echoes of the West's religious terror
- The single best way to help your kid succeed at school
- Today in history: Lincoln reveals the real goal of the Civil War
- What Keeping Up with the Kardashians can teach America about interracial marriage
- It's time for the police to rethink 'shoot-to-kill'
Subscribe to the Week