Black Friday weekend expected to unleash shopping frenzy from today
28 Nov 2011
The biggest Black Friday weekend is expected to set the stage for an online shopping frenzy Monday with tens of millions of bargain hunters expected to log on seeking deals.
Black Friday is the day following Thanksgiving Day in the United States, and marks the opening of the Christmas shopping season, and the day when most major retailers open extremely early, often at 4 a.m., or earlier, offering promotional sales to kick off the shopping season,
Around 123 million people will shop on ''Cyber Monday,'' up from 107 million last year, a survey conducted by the National Retail Foundation has revealed.
The online sales would come after a record-breaking Black Friday weekend, figures released Sunday by the foundation show. Retailers hauled in revenues of over $52.4 billion from Thursday through Sunday - up from $45 billion last year.
Online sales are increasingly important part of the total volumes with 38 per cent of the money spent online.
Web retailers would account for $1.2 billion in sales on Monday, as against $1 billion last year, an industry spokesman Andrew Lipsman, at industry analyst comScore.
According to Lipsman, stores were driving up online sales this year with the use of social media with incentives like discounts.
According to the National Retail Foundation 78 per cent of all retailers were offering special online promotions.
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