Click Monday not necessarily the cheapest, UC expert says
university-of-canterbury
Tue Nov 26 2013 13:00:00 GMT+1300 (New Zealand Daylight Time)
Click Monday not necessarily the cheapest, UC expert says
Tuesday, 26 November 2013, 12:51 pm
Press Release: University of Canterbury
Click Monday not necessarily the cheapest, UC marketing expert says
November 26, 2013
Click Monday is not necessarily the cheapest day of the year to buy goods, a University of Canterbury (UC) marketing expert says.
As seen last night, Click Monday is quickly becoming an online shoppers' dream as people seek out cheaper prices on products that may make great Christmas presents, Associate Professor Ekant Veer says.
``Unfortunately, many savvy buyers are slowly finding out that the click Monday sales, although enticing, are not necessarily the cheapest price during the year nor are the products the current 'trendy' products, but being old lines and out of date products.
``As such, Click Monday is more akin to excitement and mob mentality associated with purchasing behaviour, rather than rational savings behaviour or utility maximisation.
``That is, people get all geared up thinking they'll get a saving but, in reality, they're getting caught up with the excitement of the event. It's not the same as Black Friday shopping (in the US), which has a lot more of a personal aspect to their behaviour. You actually see people fighting for limited stock, so you are willing to fight more for something you don't really need.
``There will be a definite spike in online sales, worldwide, not so much in New Zealand as local retailers are not so on-board or prevalent as they are overseas. Our major online retailing site is Trademe, which is more of a peer to peer retailer, rather than a business to consumer retailer, which is where the biggest savings are.’’
Advertisement - scroll to continue reading
Black Friday is the Friday after Thanksgiving in the US where shoppers go nuts at sales, Professor Veer says. Shoppers become a mob in places and fights break out in stores while people try to get discounts.
``Look at the Black Friday YouTube videos. It's crazy!’’
More than 60 New Zealand retailers began offering discounts to online shoppers today through a 24-hour pre-Christmas sale that started 7pm last night.
The promotion, Click Monday, is the first attempt in New Zealand to emulate a popular event in the United States known as Cyber Monday and which has spread to Australia and China.
The Click Monday website is offering deals from retailers that include Ezibuy, Hallensteins, MightyApe, Fishpond, Countdown, Pascoes, Bendon, Icebreaker, Macpac and Toyworld.
Associate Professor Ekant Veer
ENDS
Advertisement - scroll to continue reading
a.supporter:hover {background:#EC4438!important;} @media screen and (max-width: 480px) { #byline-block div.byline-block {padding-right:16px;}}
Using Scoop for work?
Scoop is free for personal use, but you’ll need a licence for work use. This is part of our Ethical Paywall and how we fund Scoop. Join today with plans starting from less than $3 per week, plus gain access to exclusive Pro features.
Join Pro Individual Find out more
Find more from University of Canterbury on InfoPages.