Economist says online shopping Cyber Monday trends steal Black Friday shopping shine

cyber-monday

BUFFALO, N.Y. (WIVB) — Black Friday is like the Super Bowl of shopping, but not everyone is excited about the idea of leaving their house to score a good deal. That, along with the convenience factor is why many people choose to skip the stores and just shop online instead.

That’s where Cyber Monday comes into play. The Buffalo State Department of Economics Chair Fred Floss says most people have an idea of how much money they’re going to spend on the holidays. He says every dollar shoppers spend online is probably going to be money they won’t spend in stores.

Floss says over the past few years Cyber Monday has started to overtake Black Friday shopping.

He says the big consumer group that shop the most are those between the ages of 25 and 35, and because that group is used to shopping online he expects that trend to continue to grow. But the downfall is stores, and particularly malls, suffer.

“I think partly we’re getting lazier and we’re getting busier, so to the extent that we can do something at midnight or 1 o’clock in the morning on our computer and it saves us time, that’s a good thing for all of us because we have a lot of things going on now and us society gets busier and there are more and more pressures on us we are going to take the easy way out,” said Floss.

Floss says even though Cyber Monday and online shopping continues to grow, he believes Black Friday won’t go anywhere soon. He thinks over time it may become smaller but he says it probably won’t ever go away all together because it’s a tradition.

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