November 27 – It’s Cyber Monday today and business experts are predicting there will be $12 billion in online revenue in one day alone.
Remember to stay safe on this day while shopping. Use known websites and emails and beware of any possible scams. If it doesn’t smell right, it probably isn’t.
While Black Friday saw record spending, we may be getting away from that historic one-day spike.
Attorney Clint Barkdoll pointed out, “I often say there’s no such thing as Election Day anymore. It’s election season. You could say the same thing about these shopping days. The quote unquote Black Friday sales, they were starting last Monday and Tuesday. Same with this Cyber Monday. I mean, I was getting emails all weekend from retailers. The Cyber Monday sale was already here. So retailers are really stretching these events into two, three and four day events to obviously boost spending and I think you’re seeing some of that with this Cyber Monday as well. I wouldn’t be surprised even going into tomorrow some of these retailers will say we’re extending the Cyber Monday sales by another day.”
Michele Jansen of NewsTalk 103.7FM said, “We hear the Biden administration is showing off about this saying, oh look we already are getting numbers showing that people aren’t afraid of spending. Yeah, but we also found out that credit debt has gone over a trillion dollars for the first time.”
Barkdoll confirmed, “A lot of this spending is on credit and that’s not a good thing. So the retail spending is good. That helps boost the economy, but then when it’s all on credit cards, that’s not good. There was some reporting over the weekend that for the first time ever, it’s the biggest percentage ever of Americans that have maxed out their credit. So again, it’s a tale of two economies really.”
Employers may also struggle today to keep employees on task with all the online sales.
Pat Ryan of NewsTalk 103.7FM suggested, “When it comes to Cyber Monday instead of saying all right everybody get back to work here, there’s no shopping online, maybe just embrace the inevitable here and maybe celebrate some of the victories in shopping at the office. It’s entirely up to you as a business owner, but Cyber Monday is on.”
Paul Frey, president of the Washington County Chamber of Commerce, said, “You know what I tell our team and when I worked in other businesses, do your shopping during lunch, be productive at work. A lot of businesses have much stronger Internet access than people at home, so they’re taking advantage of that while they’re at work, so be productive. Don’t be wasting time on the man’s clock. All right. We’re pretty relaxed at the Chamber. People work long hours. They work really hard. Frankly, my approach is if you get the work done, I think our folks work really hard.”
Jim Kercheval, executive director of the Greater Hagerstown Committee, said, “We took an approach a couple years ago where we started making the work balance of family and work important and we started focusing more on results than we do on the time. We don’t get caught up in every little minute every day. If you need to take a little time to do some personal good as long as we’re keeping up with everything, we’re fine.”
Don’t forget about Giving Tuesday tomorrow.
Kercheval said, “Giving Tuesday, I think a big part of that helps with operational costs because a lot of times with nonprofits you get grants and things that help you run the organization, but usually they’re restricted to certain uses. So the operational cost is always the hardest part to cover when you’re a nonprofit and Giving Tuesday is a good day to raise some money for that.”