It's Cyber Monday: Do you plan to shop at work?
A survey suggests most workers will be checking for deals online during work hours today. Also: the odds that you'll be caught doing it.
This post comes from Christine DiGangi at partner site Credit.com.
Put another way: Cyber Monday shopping could cost employers more than $2.5 billion per hour in lost productivity, based on a calculation from RetailMeNot.com using numbers from the Bureau of Labor Statistics, as 67 percent of those who responded to the survey said they planned to shop for at least an hour. Overall, 86 percent said they planned to do some online shopping during work.
A quarter of employees (25 percent) said they're looking to spend four hours — yes, nearly half a workday -- online shopping at the office.
The survey of 1,045 American adults was conducted by Omnibus for RetailMeNot.com from Oct. 1 to 8, and the results have a margin of error of plus or minus 3 percentage points.
Before you jump on the bandwagon, consider this: One in five respondents who have shopped on Cyber Monday said they have been caught doing so. Unless your boss is among the at-work shoppers, using your work computer to comb the Internet for gift deals may be risky.
Could the deals be worth it? That depends on what you're looking to buy. For many consumers, deal-seeking is a huge part of keeping holiday expenses under budget, which can be crucial to avoiding post-holiday debt.
Not only will overspending hurt your budget, it could hurt your credit scores if you're spending a lot on credit cards -- doing so increases your credit utilization rate, which makes up nearly a third of your credit score. It's also important to make timely payments on all bills because late payments will ding credit scores,as well. For all of these reasons, it's important to stay on top of your credit so you can steer yourself back to better spending habits. Monitoring your credit scores can help keep you aware of your credit health during the holidays, and beyond.
More from Credit.com:
- 5 holiday shopping pitfalls
- The best times to get deals on holiday gifts
- 4 holiday credit card strategies
"Cyber Monday shopping could cost employers more than $2.5 billion per hour in lost productivity"
That pales in comparison to the lost productivity due to posting comments on MSN articles.
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