Based on a survey of shoppers completed by Overstock.com, a discount online shopping retailer, 75% plan to shop on Black Friday (Nov. 29) and of those, 57% plan to do it online. Cyber Monday (Dec. 2) will bring in 66% of shoppers online. The survey also revealed that consumers expect savings of up to 40% off during the Black Friday and Cyber Monday retail period.
"Online shopping allows consumers to make purchases comfortably from their home while avoiding the holiday rush, waiting in line, fighting traffic and suffering the weather," says Overstock.com Chairman and CEO Patrick M. Byrne. "Overstock offers great deals on high-quality products that can be shipped directly to your door."
The majority of online shoppers will be younger consumers. According to a study by CFI Group, 50% of millennials intend to spend more than 40% of their holiday shopping budgets online, compared to 38 percent of baby boomers.
Overstock.com's survey also showed that 74% of shoppers...| Read more »