Is Cyber Monday Worth the Convenience?

While Cyber Monday might offer the easiest way to get your holiday shopping out of the way, it also takes a serious toll on our local economy.

Cyber Monday became an official term as recently as 2005, but it's made its mark quickly. Last year, Americans spent $1.25 billion online on the Monday after Thanksgiving, making it the best day for online spending in U.S. history, according to ComScore.

This may be good news for the economy on a big scale, but for H-F, it's money lost—big time. How much money? According to the Winter 2012 edition of Homewood's Village Key, $68 out of every $100 spent locally returns to the community. Sylvia L. Wyant, Executive Director of the Boulder Independent Business Alliance, estimates the return of shopping locally may even be as high as 80 percent. Compare that to $48 coming back out of every $100 spent on big box retailers or, worse yet, $0 return from online retailers. 

Are you shopping online this year? Do you really think it makes that much of a difference? Why or why not?

Have you seen any great local alternatives for shopping ideas this year? Share them with us in the comments!

Business Owners: Do you have a pitch for holiday shoppers this year? We'd be happy to hear share your message with potential customers in the comment section below! 

Tim Pursell November 26, 2012 at 11:24 AM
How about the best of both worlds? Shop online at my Etsy shop ( http://www.etsy.com/shop/tpursell?ref=si_shop ) and you ARE shopping local! Personally, I love online shopping. The selection and convenience make all the difference. I abhor going anywhere near the big stores and malls this time of year.
Ryan Fitzpatrick November 26, 2012 at 05:30 PM
Thanks for the suggestion, Tim!
Carrie November 26, 2012 at 06:37 PM
I still pay tax when I shop online at Target and Kohls


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