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Cyber Monday attracts many shoppers

There are many reasons why consumers are more likely to shop online during this holiday season. According to a recent national poll, the top reasons include lower-priced goods, free shipping and product availability, suggesting consumers are looking at convenience factors more than ever this year.

Some local residents plan on purchasing gifts online while others feel passionately about shopping local.
One shopper said she has had good Cyber Monday experience and she will “absolutely” participate again this year. She noted that online shopping assists her in searches of specific items, getting the best price, and avoiding “the headache of parking lots and long lines.”

For others convenience isn’t a factor. Another resident said she doesn’t participate in Cyber Monday for two reasons. The first being she tries to shop local, and that shopping online is an option available every day of the year.

Some locally owned merchants do participate in Cyber Monday by honoring franchise sales or promoting purchases on their online stores or Facebook pages.

The projected figures for Cyber Monday’s 2016 sales are forecast to be the largest online shopping day in history, according to Adobe Digital Insights. The upcoming holiday season will be the largest online shopping affair yet, with ADI expecting Cyber Monday to hit $3.36 billion in online sales this year, a year over year growth of 9.4 percent.

In 2005, the National Retail Federation coined the term “Cyber Monday” in a press release from its Shop.org unit: “77 percent of online retailers said that their sales increased substantially on the Monday after Thanksgiving, a trend that is driving serious online discounts and promotions on Cyber Monday.”

In a survey from digital marketing firm Fluent, 34 percent of respondents said they had done some holiday shopping before September this year. Many of those consumers polled will also focus on Cyber Monday this year: 40 percent will be participating in the online shopping holiday, with 53 percent planning to spend the same amount as last year and 26 percent planning to spend less. The poll reveals the importance of retail websites during the 2016 holiday season and their contribution to overall sales.

Dramatic growth in Cyber Monday sales from 2005 through 2015 were observed, with sales on Cyber Monday growing 16.8 percent Compound Annual Growth Rate over the period, according to Fung Global Retail and Technology.