Black Friday is gone and we are passing Cyber Monday too. The bad news
is that this time, American consumers spent less amount of money compared to
last year. According to this BBC report:
US consumers spent around $1.7bn less over the holiday weekend, with the average shopper spending $407.02 from Thursday to Sunday.
That's down from $423.55 in 2012.
Retailers blamed stagnant wages and economic uncertainty for keeping wallets shut, as they slashed prices to lure reluctant shoppers.
In total, the National Retail Federation estimates that US shoppers spent around $57.4bn this year, down 2.7% from $59.1bn last year.
The good news is that the concept of Black Friday is spreading to
foreign markets and foreign consumers are taking advantage of the online
shopping spree that happens during Black Friday and Cyber Monday.
On the other hand, things look positive and bright when it comes to
Cyber Monday 2013. The headline of this Chicago Tribune news perhaps says it
all:
The future of online shopping looks to be bright and US companies will
get a lot of benefit because they are the early players. E-commerce is going to
expand rapidly in Asia in the next few years just the way smartphone use is
increasing. We will not get shocked if after one decade, there will be more
sales in Asia rather than USA during Cyber Monday and Black Friday.
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