The big shopping holiday means employees are working less and shopping more
He knows when you are sleeping, he knows when you’re awake. He knows when you’re skimping on work to do your Cyber Monday shopping.
Couponing site RetailMeNot estimates 94 percent of employees plan to spend some of today browsing through Cyber Monday sales.
RetailMeNot trends expert Sara Skirboll says employees could spend as much as half a work day on other things.
“Employees are willing to go to great lengths to find the best deals on everything from their holiday list,” says Skirboll. “According to our survey, we know that many shoppers plan to spend as many as four hours looking for Cyber Monday deals.”
When are they shopping?
Employees looking to score major deals on Cyber Monday are cutting off work time for play time. RetailMeNot says almost half of employees will leave early, 26 percent will take a longer than normal lunch break, and 13 percent headed into work late.
For those workers with less flexibility, 22 percent will move meetings or calls to make sure they can buy something they’ve been on the hunt for. Some are even willing to take the heat for their misdeeds: 21 percent of employees would risk getting caught if it meant making sure they got the best deals.
The Consumer Technology Association says 20 percent of Americans are planning on shopping today — a record-high of more than 49 million people. But by the time today is over, Americans admit that they will either be completely finished (14 percent) or mostly done (42 percent) with their holiday shopping. Plenty are less confident: 22 percent have a lot of shopping left, while 15 percent have barely started, according to CTA.
What are they buying?
“Cyber Monday” doesn’t just refer to online shopping while you’re at work. It also means what you’re buying as well. RetailMeNot says that computers and electronics are the most popular Cyber Monday purchases (48 percent plan one), with designer clothing taking up 43 percent, clothing for teens at 39 percent and books and media taking up 33 percent.
CTA says TVs, tablets, smartphones, and video game consoles make up the vast majority of our tech purchases.
“Total tech spending during the entire holiday shopping season will increase 3.1 percent to reach a record $36.05 billion in 2016,” CTA says. “Total online holiday sales will grow by 16.4 percent to $84.2 billion, while online sales through mobile devices will grow by 45.2 percent to $20.1 billion.”
Article last modified on June 22, 2017. Published by Debt.com, LLC .