Females and younger investors are more likely to participate in Cyber Monday shopping.
If you are going to wait until Monday to celebrate Cyber Monday, you are going to have company.
Almost 32 percent of affluent investors say they are going to shop on Cyber Monday, a day when retailers make special offers for on-line shoppers. It is a response to Black Friday, the day after Thanksgiving when brick-and-mortar retailers make special offers to customers.
Many retailers have announced plans to put items on sale prior to Monday to beat the crowd, but Monday is still expected to be a busy day for online shopping.
Among the investors surveyed by Spectrem’s Millionaire Corner, almost 36 percent of females say they are going to shop on Cyber Monday, while only 28 percent of males plan to take advantage. Fifty-eight percent of investors under the age of 40 are going to take advantage of the deals online, while only 23 percent of investors 61 years of age and older are going to do so.
There is very little difference between investors based on wealth. Only 24 percent of investors with a net worth under $100,000 plan to shop on Cyber Monday, while 33 percent of investors with a net worth over 5 million will do so.
Among those investors planning to shop the online deals next week, 73 percent are going to buy technology items, 55 percent will buy clothing and 31 percent are going to buy toys.
Technology is very popular among men, with 88 percent of male investors who are going to shop online Monday planning on electronic purchases, while only 59 percent of women plan to go that direction. Fifty-nine percent of women plan to shop for clothing.
Forty-six percent of investors planning to shop on Cyber Monday say they will spend between $100 and $499 on that day alone. Twenty-six percent will spend between $500 and $999, and 15 percent will spend over $1,000.
In 2010, more than $1 billion in online sales were reported on Cyber Monday nationally.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.