CHICOPEE, Mass. (WWLP) – Cyber Monday has arrived! A day when online stores hold some of the year’s most significant discounts.
Between Black Friday and Cyber Monday, retail experts predict a record number of shoppers will be making purchases, over 166 million. This is an increase of 8 million over last year.
It’s the highest number of shoppers since the National Retail Federation began tracking data in 2017. With inflation reaching record highs this year consumers are eager to find the best deals possible. The deals will range anywhere from electronics, to toys, to clothing.
Walmart is expected to cut prices on the popular Airpods. Best Buy is offering special deals on large electronics like TVs. Gap has advertised 50 percent off most purchases. Amazon is taking 30 percent off toys like American Girl Dolls and certain Legos.
Based on current shopping trends, this is good news for consumers. So far this holiday season, toy purchases were up 285 percent. Overall, spending on Cyber Monday is predicted to reach $11.2 billion. This is a 5 percent increase from last year.
So far this holiday shopping season, there’s been an increase in the use of flexible payment options. Buy Now, Pay Later payments increased 78 percent over last week, and Buy Now Pay Later revenue increased 81 percent. People are also choosing to shop online through smartphones.
Black Friday broke a record number of mobile orders, 48 percent of Black Friday online sales were made on phones. This is an increase of 44 percent.