What to expect on Cyber Monday as big-box stores look to attract customers

[Craig Nigrelli]

THE HOLIDAY SHOPPING SEASON IS WELL UNDERWAY WITH STORES PUSHING BIG DISCOUNTS TO BRING IN CUSTOMERS.
COME MONDAY, LOTS OF PEOPLE WILL BE CLICKING ON THE BOX THAT SAYS “BUY” OR “ PURCHASE”, AS IT IS CYBER MONDAY.
SOME OF THE BIG BOX STORES AND MAJOR RETAILERS ARE OFFERING DEALS IN-ADVANCE OF MONDAY, MAKING IT SOMEWHAT LIKE CYBER-WEEK.
AMAZON BEGAN RUNNING SALES ON FRIDAY, INCLUDING 50% OFF HEADPHONES, AS WELL AS MATTRESSES, AND 40% OFF HOUSEHOLD ITEMS INCLUDING VACUUMS.
TARGET IS EXPECTED TO KICK-OFF ITS ONLINE SALES ON SUNDAY AND EXTEND THEM THROUGH MONDAY. THERE WILL BE BIG DISCOUNTS ON ITEMS SUCH AS AIR PODS AND APPLE WATCHES FOR $200 OR LESS.
WALMART WILL ALSO BEGIN OFFERING ON-LINE DEALS ON SUNDAY. ELECTRONICS, SUCH AS A 32-INCH SMART TV WILL BE AVAILABLE FOR UNDER $100. LAPTOP COMPUTERS FOR LESS THAN $150.
BEST BUY IS RUNNING SALES ON BOTH SUNDAY AND MONDAY.
SOME ANALYSTS ARE ALSO URGING SHOPPERS TO CONSIDER THE AFFECT PRESIDENT-ELECT DONALD TRUMP’S TARIFF PROPOSALS MIGHT HAVE ON POPULAR GIFT ITEMS. TRUMP HAS THREATENED TO HIT CHINA WITH A 60% LEVY AND MEXICO AND CANADA WITH A 25% TARIFF.
CHIP LUPO FROM WALLETHUB TOLD NEWSWEEK, “ ELECTRONICS, APPLIANCES, CARS AND FURNITURE ARE PARTICULARLY VULNERABLE TO PRICE INCREASES BECAUSE OF THEIR RELIANCE ON IMPORTED PARTS AND MATERIALS. “
HE NAMED SPECIFIC ITEMS LIKE SMARTPHONES. MORE THAN 80 % OF THOSE DEVICES ARE MANUFACTURED IN CHINA. IF TARIFFS ARE IMPOSED, A NEW $1000 DOLLAR I-PHONE COULD GO UP IN PRICE BY ABOUT $300. LUPO SAYS OTHER ELECTRONICS SUCH AS LAPTOPS, TABLETS AND GAMING CONSOLES COULD SEE PRICES JUMP BY 25 TO 45 %.
IN 2023, AMERICANS SPENT ROUGHLY 12-AND-A-HALF BILLION DOLLARS ON CYBER MONDAY AND 2024 IS EXPECTED TO HIT CLOSE TO THE 14-BILLION MARK ACCORDING TO THE TRACKING FIRM, EMARKETER.
THE NATIONAL RETAIL FEDERATION CAME UP WITH THE TERM “CYBER MONDAY” IN 2005 AFTER AN UPTICK IN ONLINE SHOPPING THE MONDAY AFTER THANKSGIVING. PEOPLE HAD RETURNED TO THE OFFICE FROM THE LONG HOLIDAY WEEKEND AND MANY LOGGED ONTO THEIR COMPUTERS AT WORK AND BEGAN CLICKING AWAY. FOR MORE UNBIASED UPDATES, DOWNLOAD THE STRAIGHT ARROW NEWS AP