My Two Cents

Seasonal sales skyrocket over records

Black Friday, Cyber Monday set sales records despite poor economy

By Josh Galvin ’13
THE ROUNDUP

Even in the face of economic downturn, the masses continue to indulge in excessive holiday spending.

According to figures gathered by Coremetrics, an Internet-based analytical company, November’s Black Friday and Cyber Monday hit record highs, with sales totaling $1.8 billion in these two days alone.

Black Friday is the nickname given to the Friday following Thanksgiving, and is known to be the most lucrative spending day of the entire year. Cyber Monday, typically a much more obscure shopping venture, is the following Monday.

This year in an astonishing turn of events, Cyber Monday sales raked in $1 billion, the most money ever spent in a single day. What makes this even more surprising is the context in which this record was set.

As unemployment rates rise and job become scarcer, one would expect sales to decline as those affected save their previous earnings. However, it appeared that customers were eager as ever to fulfill Christmas wishes.

Whether this is simply a gesture of goodwill or a mere fiscal irresponsibility remains to be seen, but one thing is certain: even in light of depression, Christmas spirit persevered.