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…
Carrie
12:38 pm on Monday, November 26, 2012
I still pay tax when I shop online at Target and Kohls more ›