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Cyber Monday! What Will You Buy Today?

Written by Gary North on November 28, 2011

Are you planning to buy anything on-line today? I’m not. I bought an iPad 2 on Black Friday. I wrote about my experience here.

Will I by anything else from Apple? Maybe an iPad 3 next year. Maybe an iPod if I need one to work with my new video equipment: a teleprompter. This was my first Apple purchase. I will not make another unless my video business calls for it. (On starting your own video business, click here.)

This is the problem with Cyber Monday: buyers do not come back until there is another big sale.

With a walk-in store, people return. They go shopping in a room full of stuff. But Cyber Monday shoppers do not come back to the retailer unless he offers a great deal. The great deal sells. Nothing else dies until there is another low-profit deal.

This is the reality of cyber shopping. It’s great for customers. It’s very hard for retailers.

I bought Amazon’s Prime last week for $79. This gets me free shipping for a year. But I already buy lots of stuff on Amazon. The company had me as a customer. So, I will buy no extra stuff, but I will save money on free shipping. I buy mostly books. For a new book at under $20, shipping can be 25% of the cost. Amazon will probably lose money on my Prime membership. I am not an impulse shopper.

The free market is great. It rewards almost all customers. It rewards only those few retailers who survive. It’s getting tougher to survive.

Continue Reading on online.wsj.com

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