Disappointing Black Friday sales are likely to be compensated for by stunning Cyber Monday sales today, in what is expected to be the biggest online shopping day in the US this year.
The tradition of Black Friday, the Friday immediately following Thanksgiving in the States stretches back to the sixties, as the unofficial opening of the retail Christmas season. In more recent years, Cyber Monday has started a tradition of its own as online retailers unleash discount sales for customers to buy their gifts online.
Reuters reported yesterday that Black Friday weekend spending had dropped this year by 8 per cent per person compared with 2008 figures. Statistics from the National Retail Federation estimate total spending across the weekend hit $41.2 billion (£24.9 billion) as 195 million shoppers descended on stores to find the best bargains in stores.
Retail giant Wal-mart and teen clothing chain Aeropostale Inc sold well on Black Friday, but the retail shortfall is likely to be made up by increased online spend today with a bumper Cyber Monday from the likes of Amazon.
Online advertising has been increased by major retail firms to promote their sales deals through social media such as Facebook and Twitter. In the last month, Nielsen revealed that Amazon, Wal-mart and Best Buy received the most buzz online through social media.
Maya Swedowsky, Nielsen's associate research director of online said: "Shoppers aren't the only ones generating buzz about Black Friday deals. Retailers are taking advantage of social media and using it as a channel to share sneak previews of deals and to get shoppers excited."