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. Like most Americans, you likely return to work the week following Thanksgiving. Which means if you plan to capitalize on Cyber Monday 2018 deals, you are going to use work hours to get some of your holiday shopping done.
Couponing site RetailMeNot estimates 94 percent of employees plan to spend some of their time on the clock Cyber Monday shopping at work. However, this isn’t as naughty as it may sound—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 get to the office later than usual.
For workers with less flexibility, 22 percent will move meetings or calls to make sure they can buy something they’ve been seeking. 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 Cyber Monday shopping opportunities.
By the time it is all over, Americans claim their shopping is either complete (14 percent) or mostly done (42 percent). Plenty are less confident: 22 percent have a lot of shopping left, while 15 percent have barely started, according to CTA. While there is just under a month to finish all the shopping, not cashing in on these giant sales means many people will purchase big ticket items they want for themselves and their household.
What are they buying?
The Consumer Technology Association says 85 percent of US shoppers plan on purchasing tech devices between Black Friday and Cyber Monday— approximately 110 million people. “Cyber Monday” doesn’t just refer to online shopping while you’re at work. It also means what you’re buying as well.
When it comes to Cyber Monday 2018, smartphones and TVs tie for the number one spot amongst online shoppers. Following the top two are Bluetooth speakers, gaming consoles and laptops, streaming devices, and smartwatches.
These sound like amazing gifts, but 33 percent of online shoppers indicate their purchases are for themselves and not people on their gift lists. Not to worry, 41 percent of survey respondents plan on purchasing electronics for a family member.
Not only are Americans buying tech in droves on Cyber Monday, they are using tech to do it. CTA went on to relay that 42.4 million shoppers will make purchases using a voice-enabled digital assistant.
“Total tech spending during the entire holiday shopping season will increase 3.4 percent to reach a record $96.1 billion in 2018,” CTA says.
If you are in the middle of paying down debt during the holidays and are committed to your plan, we salute you! Tech is cool but getting out of debt is even cooler.
Are you having a hard time finishing your holiday shopping while sticking to a budget? Refer to our Holiday Gift Guide full of low-cost items your friends and family will love.
Updated on: November 20th, 2018
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Article last modified on November 29, 2018 Published by Debt.com, LLC . Mobile users may also access the AMP Version: Yes, Cyber Monday Shopping Takes Away from Actual Work Productivity - AMP.