The Rise of Cyber Monday

Cyber Monday has become almost as eagerly anticipated – and popular – a shopping event as Black Friday, according to some new data.

RetailMeNot, Inc., an offers marketplace and Placed, Inc., a firm that connects ads to store visits, have teamed on a “State of Holiday Shopping” study, with some interesting findings.

It seems that Cyber Monday may one day catch Black Friday, just not this year: 55.9% of the consumers surveyed planned to hit the stores on Black Friday, but Cyber Monday is now a strong #2 position as the most popular holiday shopping day.

Another interesting finding, (and one that will delight retailers), is that many people are upping their holiday shopping budgets this year.

Nearly 82% of those polled plan to maintain or increase their holiday shopping budgets this year compared to last; 27% of those polled are in the “spend more” category.

The average planned spend will be $492.72, and 35% of shoppers who plan to spend more, plan to spend between $251-500 more.

We’ll see if these projections pan out, and with the shopping season now underway, it won’t be long until we hear back from retailers.