Black Friday is a time-honored shopping tradition. In recent years, Black Friday had a baby named Cyber Monday. And this year it was a BIG baby! This year…
Cyber Monday (was) the heaviest online spending day on record, with $1.25 billion in sales. Tuesday and Wednesday followed with billion dollar spending days, helping Cyber Week reach a record weekly total of nearly $6 billion in spending. Consumer Affairs
So far this season, we have spent almost $19 billion online, an increase of 15% over last year. So, great, we’re spending again – that’s got to be good news for the economy, right? Well, maybe and maybe not. It seems that we’re doing a lot of that spending using our credit cards. Credit card spending is up 7.4 %, while debit card use is up only 3.4%. Will we pay off those credit card purchases, or will we let ‘em ride? That’s the question! Paying them off is usually a sign of consumer confidence – which has been in short supply lately!
So, how about you? Have you increased your online buying this year? What makes you choose one retailer over another? Are you using more credit or debit? Let us know!