Cyber Monday is a marketing term for e-commerce transactions on the Monday after Thanksgiving in the United States. It was created by retailers to encourage people to shop online. This year it falls on November 28th!
The rise of the internet is growing significantly, and because more and more companies are producing an online presence, Cyber Monday becomes a day when profits soar and consumers get their spending gig going. So strap into your comfy computer chairs and let's learn about Cyber Monday!
Today, Cyber Monday is mostly seen as the online equivalent of Black Friday. And it is one of the most busiest shopping days of the year in the United States and also across the world.
| Event | Cyber Monday |
|---|---|
| Date | November 28, 2022 |
| Day | Monday |
| Significance | The day encourages people to shop online. |
| Observed by | United States |
Cyber Monday History:
The term "Cyber Monday" was first coined by Ellen Davis, and was first used within the ecommerce community during the 2005 holiday season. According to Scott Silverman, the head of Shop.org, the term was coined based on 2004 research showing "one of the biggest online shopping days of the year" was the Monday after Thanksgiving (12th-biggest day historically). Retailers also noted the most significant shopping period was December 5 through 15 of the previous year.
In November 2005, The New York Times reported: "The name Cyber Monday grew out of the observation that millions of otherwise productive working Americans, fresh off a Thanksgiving weekend of window shopping, were returning to high-speed Internet connections at work Monday and buying what they liked." At the time, a lot of people had slow Internet at home. The idea for having such a holiday was created by Tony Valado, in 2003 while working at 1800Flowers.com, and coined "White Wednesday" to be the day before Thanksgiving for online retailers.
Cyber Monday was created as a way for brands to leverage two things: Workplace boredom and the convenience of shopping online versus in store during the Wild West of Black Friday. Since then, Cyber Monday has steadily grown as one of the major shopping days of the year. With the likes of Amazon and increasingly affordable high-speed internet, shopping online has become more woven into the fabrics of American lives. Nearly everything can be bought and sold with about one click or two.
As the internet was slow that time that's why it took time for Cyber Monday to grow but still it is estimated that it grew by 26% every year according to report by Reader's Digest. It wasn't until 2014 when online retailers earned over $2 billion in profits that Cyber Monday became one of the biggest shopping holidays in the United States. Many other countries since then participate in Cyber Monday, and according to Adobe Digital Insights, Cyber Monday exceeded greatly by $3.45 billion in profits, raising the bar for retailers significantly.
Additionally, as the holiday grew, so too did the day. Now, Cyber Monday sales may start the Monday before Cyber Monday (making it Cyber Week?). The nomenclature is still unknown. But what we do know is that Cyber Monday is much bigger now than just an ahead of its time insight in 2005. Although it isn't the biggest profitable holiday, as Single's Day in China takes the cake at $14.3 billion in 24 hours, Cyber Monday is exceedingly popular among Americans as one of the best days to shop online and save lots of money on things.
Cyber Monday Significance:
Cyber Monday has become the online equivalent to Black Friday and offers a way for smaller retail websites to compete with larger chains. Since its inception, it has become an international marketing term used by online retailers around the world. According to the Shop.org/Bizrate Research 2005 eHoliday Mood Study, "77 percent of online retailers said that their sales increased substantially on the Monday after Thanksgiving, a trend that is driving serious online discounts and promotions on Cyber Monday during its first year (2005)".
Cyber Monday is by far the biggest online shopping day of the year, representing a massive sales opportunity for eCommerce retailers. Many smart and savvy retailers take advantage of the 'Black Friday sales season' (which usually starts around Tuesday) to figure out which deals and promotions are working and use those insights to optimize their Cyber Monday sales. By replacing unpopular offers with deals that are in high demand, businesses can do both, drive more profit and keep their customers happy.
This shopping term is different to Black Friday as traditionally Black Friday sales focused on in-store deals, more and more shoppers choose to hunt for offers online, and the concept of Black Friday as the kick-off of the holiday shopping season is changing. The period from Black Friday to Cyber Monday is now often referred to as 'Cyber weekend', with discounts getting steeper and steeper as the sale progresses. It's a great opportunity for retailers to clear their stock and gather useful data in preparation for the Christmas sale.
One of the main reason that Cyber Monday is so popular today is because Cyber Monday has deals that you won't find on Black Friday. Because Cyber Monday deals are typically offered by smaller retailers and focus more heavily on fashion than technology. On average, there are 45% more clothing deals and 50% more shoe deals on Cyber Monday than on Black Friday. And it is seen that people likes to buy a lot of stuff related to apparels and footwears during the shopping season and that's why it provides great deals to people looking for these things for the shopping season by offering much more exciting offers than Black Friday!
After the madness of Thanksgiving and Black Friday, most of us just want some alone time. Cyber Monday gives us the respite we need. The whole universe of Internet shopping is at our fingertips, and we don't have to interact with a single human being to buy what we want! Hence this day gives us an opportunity to be anti-social and saved from the hustle and bustle of the people while shopping at stores. Online shopping is overall a rapidly growing market and it is no wonder why!
Cyber Monday Activities:
Use this opportunity of Cyber Monday to check out your favorite stores online and buy while the sales are hot! Subscribe to your favorite store for email updates on sales so you can be prepared for the big day when your favorite items are limited but cheap in price. Try to make it the best shopping experience for you by saving a lot on offers and discounts.
Since you're browsing the Internet on Cyber Monday, you're probably already on Facebook. Expand your shopping horizons by asking your Facebook friends to share their favorite e-commerce websites so that you will know about the best websites for offers and deals. Then prepare to be led down a pleasurable rabbit hole of Internet shopping paradise.
Use the hashtag #CyberMonday on social media as a way to ramp up your excitement and convince your friends to join the fun. As it is saud that sharing is caring, so don't forget to share information about this very important shopping day with your friends and relatives so that they can be aware about it too. And who knows while doing so you might get recommended some good deals for shopping.
It's okay to let your freak flag fly once a year. If you secretly love Internet shopping but willfully don't let yourself indulge, Cyber Monday is the one day you can browse the Internet all day and feel not a shred of guilt. It is the time to indulge your inner internet shopaholic.
Also, download your favorite store apps, because buying online is as easy as pie, even when you don't have a computer as you can do it easily on a smartphone. Maybe even go to your library's computer if you're desperate for those sales. Don't forget your wallet.
Most Searched FAQs on Cyber Monday:
1. When is Cyber Monday celebrated?
Cyber Monday is annually celebrated on the Monday after the Thanksgiving in US.
2. Who created Cyber Monday?
The term 'Cyber Monday' was first coined by Ellen Davis in 2005.
3. Are Cyber Monday deals better than Black Friday?
That varies based on the retailer and the item. Some products may have better deals online than in store, and vice versa.