TAMPA, Fla. — If you are planning on shopping for the holidays online today, you won’t be alone.
Nearly 100 million people are expected to make at least one Cyber Monday purchase today.
What You Need To Know
- Cyber Monday has arrived
- 100 million people expected to make an online purchase today
- At peak times, sales will reach an estimated $10 million per minute
According to fitsmallbusiness.com, during peak times Monday, people will spend an estimated $10 million per minute on sales.
The website says more than 60 percent of people will make at least one Cyber Monday purchase, and 66 percent of people will spend more than they did last year.
The average sale for Cyber Monday is estimated at 32 percent, but how much of those savings will be cancelled out due to shipping prices is the question today.
With fuel prices up across the board, USF Economics Instructor Michael Snipes says you’ll need to look hard for free or reduced shipping deals if you plan to save as much as you can.
“If you buy something online, it is going to have to be shipped," Snipes said. "And if fuel prices are increasing as much as they are, anytime we see those increases in fuel prices, that is going to increase those shipping costs, that's going to increase costs and prices overall."
Most online stores offer free shipping if you spend over a certain amount.
And some, like Amazon, offer free shipping for Prime members on certain items.