Driving the Day: 11/26/12

Nov 26, 2012

Need to know…

  • Cyber Monday Aims for Biggest Online Shopping Day of the Year. Cyber Monday, a term coined by Shop.org in 2005 after noticing online sales spike on the Monday following Thanksgiving, is the next in a series of days that stores are counting on to jumpstart the holiday season. With Black Friday and Small Business Saturday already passed, retailers are planning online deals intended to get shoppers to click on their websites. According to research firm comScore, Americans are expected to spend $1.5 billion today, up 20% from last year on Cyber Monday.
  • Thanksgiving Weekend Drew Larger Spending Crowd Than Last Year. According to a survey the National Retail Federation released yesterday afternoon, the average Thanksgiving weekend consumer spent $423 — roughly $25 more than they did last year — between Thursday and Sunday. Total spending increased nearly 13% to an estimated $59.1 billion. About 35 million consumers visited stores and Web sites on Thursday, up from 29 million last year. NRF CEO Matthew Shay is quoted in reports saying, “I think the only way to describe the Thanksgiving openings is to call it a huge win.”
  • Trade Deal Between U.S. and Europe May Push Forward. A free-trade agreement between the United States and Europe is gaining momentum and may finally be attainable, according to business and political leaders. Difficult negotiations still lie ahead, but if technical hurdles can be overcome, it could rival the North American Free Trade Agreement (NAFTA) in scale and be a cheap way to encourage growth between the EU and the United States.

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