WALMART, TARGET & AMAZON COMPETE FOR TOP SPOT

cyber

CYBER MONDAY: WALMART, TARGET & AMAZON COMPETE FOR TOP SPOT

Cyber Monday (a term used by retailers after they saw a rise in online sales on the Monday after Thanksgiving) is expected to be the biggest online shopping day ever. Approximately 56% of shoppers plan to purchase online this year, up 6.8% from 2015. An estimated $3.36 billion in sales. A 9.4% increase over the last year, according to Adobe Digital Insights, a research firm that tracks retail website sales.

A survey by the National Retail Federation found that 36% of consumers plan to shop online today, up from the 34% in 2015. Non-store retail sales, including those from online sites, mobile devices and other forms of e-commerce, are expected to grow by 7% to 10% this year, the federation said.

Retailers are planning to impress online shoppers with Cyber Monday deals that start earlier and run longer periods of time.

Target (TGT) announced last week that it would be offering a 15% discount on nearly everything its sells both online and in its stores. Target saw record-breaking sales last year during a similar Cyber Monday promotion, which was so popular it caused problems for the company’s website. Target officials said they decided to expand the promotion this year, offering the savings over a two-day period and making the discount available both in stores and online.

Sears and Walmart are also expanding Cyber Monday promotions. Sears announced last week that Cyber Monday sale would begin a day earlier and run a day longer.

Walmart (WMT) has planned its largest Cyber Week event yet by selling almost 3 times the amount of items sold in their website, to more than 23 million this year. The sale began the day right after Thanksgiving.

Amazon (AMZN) plans to offer more than 75,000 deals during the week of Cyber Monday this year, after breaking all the records during the Cyber Monday in 2015.

Online sales are expected to hit record levels this holiday season.

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