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November 21, 2005

Online Retailers Gear Up For "Cyber Monday"



Courtesy of TechWeb News

Thanksgiving weekend may mark the traditional beginning of the retail shopping season, but Cyber Monday, the Monday after Thanksgiving, is fast becoming one of the biggest online shopping days in the year.

In fact, 51.7 million (or 37 percent) of the consumers who participated in the survey said they will use Internet access at work to browse or buy gifts online this holiday season, according to a Shop.org survey conducted by BIGresearch released on Monday.

"On Cyber Monday, consumers set their sights on surfing for holiday gifts and shopping online," Scott Silverman, executive director of Shop.org, said in the report. "This year, online retailers will be capitalizing on the increased traffic by offering special promotions and discounts."

The survey found that 51 percent of young adults 18 to 24 years old, and 49 percent those 25 to 34 years old will shop online during work hours. The survey also found that more men, 42 percent, are more likely than women, 32 percent, to shop online while at the office.

Retailers are preparing for higher sales the Monday after the Thanksgiving weekend by offering extra incentives to encourage people to shop online. Forty three percent of online retailers that participated in the survey plan to offer special promotions and discounts on Monday. Deals will range from free shipping to gifts with purchase to percentages off, according to the eHoliday Mood Study.

Meanwhile, 89 percent of Web retailers that sell jewelry and luxury items experienced "substantial" increases in sales, compared with consumer electronics at 86 percent; food and gourmet items at 83 percent, and furniture and home d├ęcor at 80 percent.

The Shop.org/BizRate Research Holiday Online Mood Study, conducted by BizRate Research, a division of Shopzilla was designed to gauge consumer behavior and online retailers' success during the winter holiday season. The poll of 1,891 online buyers who has made an online purchase within the last twelve months, and 119 online retailers, all members of Shop.org, was conducted between Sept. 23 and 26. The survey on consumers shopping at work was conducted for Shop.org by BIGresearch from Nov. 2 and 9.

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