Cyber Monday will hit online retailers today as ‘vast swathes’ of shoppers hunt for bargains and deals online as the Christmas shopping period gets in to full swing.
However, the high street will feel the brunt as shoppers stay at home or shop from their desks rather than trawling bricks and mortar stores for gifts and special offers.
Stats from social retail site Shopow show that 62.7% of retailers will send promotions and deals to shoppers through a special Cyber Monday email and 21.6% will offer free shipping on all purchases, up 6% from last year.
A number of large-scale UK retailers in have also launched mega-sales due to last several weeks – including Amazon which also sells a number of lingerie and swimwear brands – in an attempt to boost Christmas shopping amongst cash strapped shoppers.
In the run up to Christmas consumers are expected to spend £7.75 billion online, according to e-tailing trade association IMRG. An estimated £13 billion will be spent across all sectors online, however figures on the high street are expected to fall by 2.1% in spite of so many sales starting early.
Kevin Flood, chief executive of Shopow, said: “The peak in online Christmas sales has been brought forward to this week, a whole 14 days earlier than expected. The recession and strong demand from consumers hunting for deals online has lead to an all out price war, with many retailers losing their nerve.