Consumer

Retailers Expecting Big Boost On Cyber Monday

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(Source: CBS)

(Source: CBS)

MIAMI (CBS4) – It’s the Monday after Thanksgiving. You know what that means don’t you? Not only is it the first day back to work after the long Thanksgiving holiday, it’s also a day when retailers are hoping you’ll spend big bucks online.

Welcome to Cyber Monday.

The National Retail Federation is forecasting that 107 million people will hit the internet to do some shopping and 90 percent of retailers will be offering one day deals to help boost sales. To build their ‘buzz’ many retailers are turning to social media sites like Facebook and Twitter to get the word out.

“What you’re going to see are retailers using every weapon in their arsenal to get consumers out to the stores, whether it be discounts; whether it be their multichannel strategy; whether it be using mobile and social media. I think they’re reaching consumers in new and unique ways,” said Scott Krugman with the National Retail Federation. “People that shop online, tend to rely on the technology for multiple purposes; not just for buying merchandise but for also researching.”

Over the holiday weekend, internet sales were up 14 percent over last year.

But before you logon and start adding items to your online cart, there are some things you need to consider. First, watch out for ‘bogus’ bargains. You may see the term “Cyber Monday” on a website but that doesn’t necessarily mean that their products are listed at sale prices. Also watch out for false confirmation emails; never give any personal information in an email if you don’t recognize the site.

Also, be leery of sites that offer free shipping in return for personal information. Never use your debit card to make purchases on line, use a credit card because it makes it easier to dispute charges.

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