Sacred Heart professor: Cyber Monday sales won't break records because consumers bought earlier this year
Local experts expect Cyber Monday sales to outpace Black Friday sales, but they were not expecting a record-breaking day.
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Nov 29, 2021, 6:28 PM
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Updated 1,246 days ago
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Local experts expect Cyber Monday sales to outpace Black Friday sales, but they were not expecting a record-breaking day.
National retailers reported Black Friday shopping in stores was down 28% this year from pre-COVID levels.
Online Black Friday spending was also slightly down from last year.
Sacred Heart economics professor Dr. Khawaja Mamun says consumers purchased items early.
"They bought things already, and they're not waiting for the deals because they're more scared of inflation as well as supply chain issues. So, they may have bought things well early in October, November. So, if you look at the big picture this year, things will be fine. But I would think that Cyber Monday will be another, just like Black Friday, it will be down compared to last year."
A different take from Adobe Analytics projected $11.3 billion in online retail today.
That would be up about 4% from last year's record-setting Cyber Monday.
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