As consumerism within our country grows, so does our economy. What used to be black Friday has now extended; starting on Thanksgiving Day and lasting through the weekend, ending with cyber Monday.
The first cyber Monday was in 2005 and it has grown to be an even greater force on our economy then black Friday is. This does not come as a surprise considering many customers prefer online shopping to reduce stress, avoid the crowds, and for convenience. Numbers have continued to grow exponentially for consumerism on cyber Monday throughout the past few years. This year, an all-time sales record was hit at $7.9 billion; making it the largest amount ever spent online in one day in our country’s history.
Black Friday numbers have continuously grown following the dip in 2008, this year not being the exception. Sales for Thanksgiving Day, online alone, were $3.7 billion. Black Friday online sales came to $6.22 billion.
Although sales records were impressive for Black Friday weekend, spending within physical stores was down 1.7% over 2017. One-third of sales completed from Thanksgiving to Cyber Monday were accomplished on smart phones. These facts are indicators that convenience plays a strong role in consumerism within our society.
This holiday season of 2018 is expected to bring in a total of $124 billion.
These sales are anticipated to drive stock prices and continue the positive evolution of our economy.