Retailers may be heralding Cyber Monday—the biggest online shopping day of the year, according to them—but to Detroit Free Press‘ Mark W. Smith, it’s just another gimmick to get you to spend.The hyped-up holiday is nothing to sniff at, as ComScore expects retailers to take in a whopping $1.2 billion, but it’s a ploy nonetheless that “has managed to wrest billions of dollars from American consumers” at a time when they need it most.
In fact, up until retailers started going mad for holiday dollars, Cyber Monday, as it was dubbed by the National Retail Federation in 2005, was only the 12th biggest online shopping day of the year. Writes Smith:
“As retailers began to push the Cyber Monday message — a way to continue the Black Friday retail hype — consumer spending habits began to change … This happened not because the bend of the universe did so organically, but because retailing groups decided that it should be so.”
In essence, even the wariest consumers can’t avoid the hype, though in Smith’s opinion, they obviously should.