Shoppers Out in Droves: 5 Things to Know for the Week

Simon Zhen

Posted on Mon Nov 26, 2012

Every year, it seems like Black Friday gets a little crazier and a little more extreme. This year, retailers decided to open door earlier — before you even had time to finish your Thanksgiving dinner. But, it turns out that big deals are more attractive that a big dinner since shoppers are spending more and more every Black Friday weekend.

  • Big box retailers made an effort to lure consumers into shopping earlier during this Thanksgiving weekend — and they succeeded. A survey by the National Retail Federation found that more consumers are shopping earlier than before online and in stores during Black Friday. This year, 247 million shoppers spent an estimated $59.1 billion over Black Friday weekend.
  • Black Friday may be over but retailers still want you to keep shopping. That’s what Cyber Monday is for. However, if you plan to scour the web for deals, be aware that cyberthugs are snooping around to victimize unsuspecting online shoppers. Here are some tips to shopping safe on Cyber Monday.
  • Tuesday marks the launch of #GivingTuesday, a campaign to create a national day of giving at the start of the annual holiday season. Chase, Discover and Capital One are some of the financial institutions that are participating in #GivingTuesday by matching contributions, from employees and customers, to charitable partners.
  • This year’s shopping season is turning out to be a good sign for mobile technology. PayPal experienced a 173 percent increase in shopping among users who made purchases via a mobile device. As mobile wallets make their way into the hands of consumers, this increase in mobile shopping is proof of growing adoption.
  • One year after Bank Transfer Day, credit unions continue to see growth as banks are losing customers. In Colorado, credit-union membership enrollments have increased 2.4 percent from last year — the state’s first membership-increase in the past three years. There may not have been a Bank Transfer Day this year, but it seems the movement is still going strong.

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