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Cyber Week 2014 Deals vs Black Friday 2014 Deals: More Sales Online During Thanksgiving and Black Friday

Virginia D'Cruz December 02, 2014 11:36 AM EST

Cyber Monday is traditionally seen as the day when consumers spend the biggest amount of money in purchasing items in online shopping sites. However, that trend is quickly changing. This year saw more people shopping online on Thanksgiving and Black Friday combined.

Forbes, in its analysis of the sales figures that were released this year, predicts that next year will witness Cyber Monday sales being overtaken by Black Friday's online sales figures. This year, Cyber Monday was barely ahead with a $2.6-billion total sales figure while Black Friday racked up online sales of around $2.4 billion.

This shows that people are no longer waiting to return to work on Cyber Monday to take advantage of the sales. Instead, they are opting to stay at home on Thanksgiving and Black Friday and finish their shopping online.

Meanwhile, this shopping season saw an 11 percent decline in sales compared to last year's sales which totaled $57.4 billion. The decline encompassed both physical stores and online shopping sites.

However, IBM has reported that from Thanksgiving until Cyber Monday online sales saw a 17 percent jump compared to last year.

Mobile devices as usual witnessed strong sales, making up 28.9 percent of online sales.

With the surge in online sales, it is expected that around $89 billion will be spent during the entire holiday shopping season, which Forrester reports will be 13 percent higher than the $78.7 billion spent online last year.

However, the year on year growth was muted as it did not exceed the 15 percent growth that was seen during the last three years.

Forbes notes that shoppers are getting better deals online on Thanksgiving and Black Friday and as such are less likely to spend on Cyber Monday. Also more online stores and brick and motor stores offered deals a week or two before Black Friday, contributing to the 11 percent slump in sales over the weekend. However, Forbes says it expects holiday spending will rebound and exceed last year's figures by nearly 4.1 percent.

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