UGA Today

UGA experts offer commentary on 2011 Black Friday/Cyber Monday

November 11, 2011

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Mickey Montevideo

Mickey Montevideo

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• Marketing, Department of
• Terry College of Business
• Housing and Consumer Economics, Department of
• Cooperative Extension, University of Georgia
• College of Family and Consumer Sciences

Athens, Ga. - UGA experts are available to provide commentary on 2011's Black Friday and Cyber Monday, the shopping phenomena that occurs the Friday and Monday following Thanksgiving.

Labeled the busiest shopping and virtual shopping days of the year, Black Friday and Cyber Monday typically launch the holiday shopping season and provide retail economic predictions. Many retail establishments open at unconventional hours on Friday with advertised sales and specials to attract consumers. Last year, the National Retail Federation reported that 212 million individuals hit the shopping aisles on Black Friday. They spent an estimated $45 billion, or roughly $365 per person, which was up more than 6 percent from 2009. Almost 10 percent were already in active shopping mode by midnight, and more than 60 percent of shoppers finished shopping by 9 a.m.
Last year, CNNMoney.com detailed that virtual shoppers spent $1 billion on Cyber Monday. This represented year-over-year growth of 16% and, though it paled in comparison to Black Friday's total sales figures, it represented the largest online purchase day in history. In fact, the total of online sales for the month of November 2010 was $13.6 billion, a 13 percent growth from the previous November.

Predictions for 2011 are already in full swing. A survey of opinions includes projections that sales for the entire holiday season will rise in the low single digits from 2010, though the foot traffic percentage will fall slightly. Internet-based sales will continue to take a bigger share of the total retailing pie and rise again in the low double digits. Regarding product categories, apparel sales are predicted to grow almost 3 percent, with a shift to lower-end and more affordable clothing brands, given the latest round of economic uncertainty. Electronic sales could be light, rising only about 1 percent on the rollout of a lower number of new products.

UGA's experts, their contact information and their area of expertise are listed below. For more information, contact UGA News Service at 706/542-8083 or news@uga.edu.

1. Jeffrey Humphreys, Director
Simon S. Selig Jr. Center for Economic Growth
Terry College of Business
Office phone: 706/425-2962
Cell phone: 678/646-9782
Email: jhumphre@uga.edu
Website: http://www.terry.uga.edu/selig/

Humphreys is the director of the Selig Center for Economic Growth at the Terry College of Business. The Selig Center is an endowed economic forecasting and market research center. Humphreys can speak to the economics of Black Friday and the forecast for holiday retail sales in general.

2. Andrew Kaikati, Assistant Professor
Department of Marketing
Terry College of Business
Office phone: 706/542-9385
Email: akaikati@uga.edu

Kaikati is an expert on social influence and word-of-mouth marketing among consumers and has published research on corporate social responsibility and brand loyalty.

3. Marcus Cunha Jr., Associate Professor
Department of Marketing
Terry College of Business
Office phone: 706/542-3762
Email: cunhamv@uga.edu

Cunha is an expert on consumer psychology, with research interests in consumer information processing, perception, pricing and branding. Cunha serves on the editorial review boards of the Journal of Consumer Psychology and Journal of Consumer Research.

4. Douglas Bachtel, Professor
Department of Housing and Consumer Economics
College of Family and Consumer Sciences
Office phone: 706/542-4894
Email: dbachtel@fcs.uga.edu

An expert in demographics and statistical evaluation, Bachtel is editor of The Georgia County Guide, The Georgia Municipal Guide and The Georgia Housing Guide. These publications are comprehensive statistical fact books about all 159 of Georgia's counties and 534 municipalities. They are used on a daily basis across the state by governmental, business, health and educational decision makers as well as interested citizens to improve the quality of life in their communities.

5. Michael Rupured, Senior Public Service Associate and Financial Management Specialist
Cooperative Extension Service
College of Family and Consumer Sciences
Office phone: 706/583-0054
Email: mrupured@uga.edu

Rupured is considered an expert in consumer behavior. Specifically, he studies financial literacy for youth and low-income audiences, particularly the working poor; consumer fraud prevention; and workforce preparedness. In addition, he implements and evaluates financial literacy and life skills programs to help individuals attain economic self-sufficiency.

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