Today is the biggest online sales day of the year. Sales over the long weekend - including Black Friday - are expected to exceed £7bn. Here's what that means for your retail investments.
Emails have been sent, sale signs are up, and internet providers are bracing themselves. It’s Cyber Monday – the biggest online shopping day of the year. The day – or long weekend, because none of the retailers actually only offer discounts on just one day – when Brits clamour to fill their online shopping baskets with all the best discounts. It has been estimated that over £7bn will be spent in the UK over the sales period (including Black Friday and Cyber Monday), an average of £220 per person.
Like most painful commercial events in the UK – Valentines and Halloween being the other two main offenders – Cyber Monday is an American import. It was originally a marketing proposition designed to entice Americans to spend online following the Thanksgiving weekend. It follows Black Friday - which was intended to encourage people from their post- Thanksgiving stupors out onto the high street. The name is a reference to the rising profits…
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