Consumer Payment Card News

Cyber Monday?

When does “Cyber Monday” happen this year? In the past it has been designated as the Monday following Thanksgiving. However, MasterCard says transaction data for historical holiday online shopping data show that “Cyber Monday” fell on December 11th last year and December 5th in 2005. With Thanksgiving falling early this year on November 22nd, this year’s “Cyber Monday” will likely be nearly three weeks later on December 10th. MasterCard noted that on average, consumers who plan to shop on the Web intend to make 40% of their purchases online, spending $253. Meanwhile, Retail Decisions predicts that online purchasing activity will peak for major retailers on December 10th, between 1:00PM and 2:00PM EST. KY-based Lexmark released a survey that shows seven out of 10 consumers will do at least some of their shopping online and even more will research products online before heading to the store. Boston-based SmartBargains predicts the Monday following Thanksgiving will top retail sales growth for the third straight year in a row as the busiest single day in retail e-commerce history. Finally, the Conference Board found that 38% of all consumers will buy Christmas gifts on the Internet, the same percentage as a year ago. Of the 38% who said they purchased Christmas gifts last year on the Internet, 91% said they were satisfied with their online buying
experience.

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