Picture courtesy of www.flickr.com/photos/kevinmarks
Cristiana Fer (Business Editor), Young London News
Online sales have risen over the last years, according to experts.
According to Statista, Statistics Portal, the online retail expenditures in UK grew to £35.3 billion in 2013.
The Centre for Retail Research found that there was a 21.1% increase in online sales in Europe in 2013 , despite having only predicted an 18.1% increase.
The United Kingdom recorded a 16.8% increase in 2013, and recorded a 15.8% increase in online sales in 2014.
A Shopping Frenzy brought from Across the Pond
Cyber Monday is, according to the Macmillan Dictionary online: “the Monday after the US Thanksgiving holiday, when there is a big increase in shopping on the Internet”.
It comes after the Black Friday, which is the day after Thanksgiving. During this time, retailers offer special discounts before Christmas.
The fighting on Black Friday in Asda’s Wembley branch was all over twitter and demonstrates perfectly the length people would go to in order to grab the best possible bargains. Shop assistants and the police were called for action.
According to Statista, Black Friday and Cyber Monday sales figures have been on the rise since 2008 in the USA. In particular, the amount of money spent online during Cyber Monday.
In Britain, the trend seems similar, but online has seen an even bigger increase.
Amazon UK recorded more than 4 million sales last year during Cyber Monday. Those numbers rose to 5.5 million in 2014.
Internet Retailing put the online firm at the top of the Top 500 2014 research – published in October. Amazon was followed by Argos, House of Fraser, John Lewis, Marks & Spencer.
By typing Black Friday or Cyber Monday on Facebook or Twitter, your screen will be inundated with Black Friday or Cyber Monday deals.
The general belief is that the young people are the principal target for online retail outlets.
We have asked to some students at the University of Westminster about their expenditures during the shopping frenzy: