According to the latest government report, retail sales unexpectedly rose by 1.2 percent, triple the anticipated number economists predicted. As stated in Shoptimism, an interesting new book by Lee Eisenberg, the American Consumer will keep on buying, "no matter what."
And while the overall economy finally starting rising at 2.8 percent in the July-September quarter, the global economy is also showing signs of recovery.
In fact, this year's Cyber Monday was the largest one yet, with an 8 percent increase in traffic, according to the National Retail Federation. As high-speed internet becomes the norm for American homes, more people are foregoing the malls for the convenience of online shopping, with a notable shift in shopping from home versus the office. And, according to Shop.org's survey, 96.5 million Americans planned to hunt for bargains, with 9 out of 10 retailers offering special promotions.
Although Cyber Monday was an overall success, online retailers must now focus on finding ways to bring shoppers back with free shipping and other promotional incentives.
Source: NPR, Retail Sales Stronger Than Expected, Shop.org Cyber Monday,
NRF, Cyber Monday Spending Shifts to Early Mornings and Evenings as More Americans Shop from Home
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