Cyber Monday Expected to See Significant Growth

Though many experts expect only modest sales gains this holiday season, a new poll by CreditDonkey​.com suggests that online sales will actually post big gains this November and December.  And Cyber Monday is expected to be much more popular this year than Black Friday as consumers will have more access to deals through their mobile devices than ever before. onlineshopper

According to a new survey from CreditDonkey, 59.8% said they will shop on Cyber Monday this year – a gain of more than 3 percentage points over the 56.7% who expected to shop on Cyber Monday in 2012. What’s more, almost 84% said they will spend the same amount of money, or more, on Cyber Monday bargains than in 2012.

Overall, we’re mildly optimistic about the 2013 holiday season,” said CreditDonkey founder Charles Tran. “But when it comes to online sales, we’re very optimistic. We predict that online sales will see double-​digit growth. With each passing year, holiday shoppers are spending more time and money shopping from the peace and comfort of their own homes — or wherever they happen to be with a mobile device.”

By contrast, only 42.4% of those polled said they will shop at stores on Black Friday, with 77.1% saying they will spend the same amount of money, or more, on Black Friday than last year. Overall, 80.5% of respondents said they will spend the same amount as last year, or more, on holiday gift-giving.

Among the other findings of CreditDonkey’s 2013 Holiday Spending Survey:

  •     68% said they plan to set a shopping budget for the 2013 holiday season.
  •     Once again, gift cards top the list of preferred presents. However, more people want to receive gift cards (82.2%) than give them (69.2%).
  •     Other favorite gifts respondents want to receive include:

o    Electronics (76.2%)
o    Clothing (67.9%)
o    Books (61.9%)
o    Homemade gifts (55.1%)
o    Household goods (53.5%)
o    Movies (43.3%)
o    Music (37.4%)
o    Jewelry (31.7%)

  •     78.2% of respondents don’t mind receiving re-​gifted items, while 68.5% said it’s OK to re-​gift items to someone else.
  •     86.7% said they don’t mind when people return their gifts to the stores, which is a good thing, since 54.3% admit they do return some gifts.
[Source:  Survey conducted by CreditDonkey.  4 Nov. 2013.  Web.  8 Nov. 2013.]