Cyber Monday to see online takings top £10bn - ToyNews

Cyber Monday to see online takings top £10bn

Amazon readies to open Cyber Monday Deals Store with 50 per cent off toys
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As High Street stores launch their Black Friday promotions, online giants prepare for the onslaught of Cyber Monday, with December online takings tipped to top £10bn for the first time.

Among the online retailers readying for the start of the Christmas countdown, Amazon is offering new deals as often as every ten minutes, including 50 per cent off selected top toys.

The online giant will be running numerous promotions through its Cyber Monday Deals Store with offers such as 50 per cent off Barbie 3 Story Dream Townhouse, 40 per cent off Lincoln Logs Redwood Junction, and offers on Razor Spark 2.0 Kick Scooters.

But as consumers are expected to surge towards online shopping this year, industry group IMRG is urging High Street retailers to find new ways to fight back.

Retail technology entrepreneur and CEO of Powa Technologies, Dan Wagner believes that as Black Friday promotions launch across the US, and Cyber Monday prepares to go live next week, High Street retailers need to 'step up to the plate.'

Wagner said: "Retailers appear to have lost their nerve earlier than ever this year, with price cuts starting in earnest in what is their prime trading season.

"Online purchases are expected to smash all records this Christmas period and the high street needs to be more focussed in its fight back than simply implementing a strategy of aggressive discounting.

"In these hostile marketing conditions the High Street must take a more innovative approach in order to survive and grow."

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