Thaindian News

By Gina Gomez
Nov 29, (THAINDIAN NEWS) The media outlets have reported that around $1billion would likely to be the gross business on Cyber Monday, which has become one of the biggest bonanza for the retailers as well as the customers. Study says that there would be a record number of customers who would take maximum advantage of the best deals to buy their desired products. The Consumers report says that at-least 17% of people would shop online this year and about 10 retailers would be offering deals to the customers.

The retailers of Bestbuy.com, Walmart.com etc have coined a new word “Cyber Sunday” as they have offered their Cyber Monday deals one day early to get maximum business. The vice president and general manager of Bestbuy.com, John Thompson said that Cyber Monday is a “viable” marketing concept and the retailers should offer their customers a choice to explore and chose their own favorites. Jim Fielding, president of Disney Stores said that they had a record sales day on the day of Thanksgiving and the company expects that they would also have a good business on Cyber Monday. Regina Lewis, AOL’s consumer advisor said that time plays a major factor in online shopping as if someone is late by only five minutes, he would miss out many items as everybody would be glued to the screen to buy items on Cyber Monday.

The retailers have requested the customers to get early online to know the best deals by the retailers. National Retail Federation’s vice president, Ellen Davis said that almost all the retailers who are offering Cyber Monday deals on website would get into Cyber Monday chaos and craziness. It seems most of the retailers are in favor of online deals, like Overstock.com’s chief executive Patrick Byrne said that he feels online shopping is a much better option as a customer can find a better deal if he finds the deal quicker than the other.