ST. LOUIS (KMOX) – The big topic of discussion the past few days has been shopping and that will continue today with Cyber Monday.
Webster University economics professor Benjamin Ola Akande said compared to last year’s post-Thanksgiving sales, there was a slight increase this year.
“What we’re going to see on Monday,” Akande predicted, “is much more a continuation of what started on Wednesday. In that light, I think nationally we’re anticipating a $2 billion day…an 18% increase over last year.”
He says there is an important trend that will dramatically affect Cyber Monday sales.
“The emergence of social media and online as a viable alternative to being [in stores] is very powerful. About 30 percent of all shoppers will make their purchases online,” Akande said. “We’re also going to be looking at trends such as 24% of shoppers shop early in the morning, before 6 a.m., meaning between midnight and 6 a.m. a whole lot of shopping is taking place.”
He said 19% of workers will be “faking it” this morning and afternoon, pretending to work as they shop online.