ROCHESTER, N.Y. — Cyber Monday is here, but is the term losing its significance? Recent data suggests that more people are opting to shop online rather than in physical stores.
This trend could spell trouble for brick-and-mortar retailers that lack a robust online presence. According to Mastercard, online spending on Black Friday rose nearly 15% compared to last year, while in-store spending increased by less than 1%.
Adobe’s data shows online toy sales surged by 622% over the previous year, likely due to steep discounts on toys, electronics, and TVs. These trends are continuing on Cyber Monday.
However, experts caution against purchasing toys online from unfamiliar sites. Consumers should buy from trusted U.S. retailers to avoid potentially dangerous, untested toys from overseas. The U.S. Public Interest Research Group notes a significant rise in such toys, which may not meet safety standards for lead, phthalates, and choking hazards.
Grocery stores and restaurants also saw significant gains during the holiday season. Grocery spending increased dramatically in the two weeks leading up to Thanksgiving, and restaurant spending was high on Black Friday, according to Mastercard.
News10NBC’s Deanna Dewberry highlights the cost of Thanksgiving meals, noting that while some grocers advertised lower prices, the average meal costs around $9 per person. Walmart and Wegmans offered meals for about $7 and less than $6 per person, respectively.
A.I. assisted with the formatting of this story. Click here to see how WHEC News10NBC uses A.I.