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Cyber Monday Expected to Trump Black Friday in Retail Sales

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Despite Black Friday’s longstanding reputation as the busiest shopping day of the year, more people will shop on Cyber Monday in 2015, according to a recent Morpace Omnibus report that analyzed the holiday shopping plans of more than 1,000 consumers.

Although many people do anticipate a Black Friday spending spree, Cyber Monday beat it by a significant margin; 57 percent of participants said they will shop on the latter, while only 35 percent plan to hit the stores on the day after Thanksgiving.

Of the loyal Black Friday bargain hunters, Morpace reported that merely 23 percent intend to shop at retail locations only, whereas 21 percent will shop only online and 55 percent will utilize both online and brick-and-mortar options. This means big holiday sales for online sites, especially Amazon, where a whopping 87 percent of individuals planning to shop online said they will spend money.

In addition to stores being arguably too crowded on big shopping days, consumers are drawn to better deals that many online retail sites offer, Morpace reported. As Kirk Baetens, vice president of the market research company’s retail and consumer goods practice, put it, “The draw of ‘limited quantity door-busters’ has lost its appeal to the masses.”

People are more interested in getting deals fast in the convenience of their home than taking a chance on deals that might not last in stores. Plus, more and more consumers appreciate the expediency of online shopping.

“Consumers are looking more for convenient ways to shop,” Baetens continued, “and mobile or tablet use will continue to increase.”

Morpace confirmed this in the study when it asked participants who intend to shop online which device they would use. Sixty-three percent answered laptops, 49 percent said PC, 22 percent said smartphones and 19 percent said they will use a tablet. Morpace expects that consumers will continue to shop on mobile more than in previous years.