Published On: December 1, 2014
Traditionally, holiday shopping consisted of long lines, packed aisles, and a rush after Thanksgiving. With Cyber Monday, you can take advantage of the holiday sales from the comfort of you pj’s and a hot cup of chocoloate. According to Wikipedia, last year Cyber Monday hit a record of $2.29 billion in sales. Read all about it here:
“Cyber Monday is a marketing term for the Monday after the Thanksgiving holiday in the United States. The term “Cyber Monday” was created by marketing companies to persuade people to shop online. The term made its debut on November 28, 2005, in a Shop.org press release entitled “‘Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year”.. Similar stories resurface year upon year at this time, portraying what is essentially a marketing tool as news.
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 this year (2005)”.
In 2013, Cyber Monday online sales grew by 20.6% over the previous year, hitting a record $2.29 billion, with an average order value of $128.
The deals on Cyber Monday are online-only and generally offered by smaller retailers that cannot compete with the big retailers. Black Friday generally offers better deals on technology, with nearly 85% more data storage deals than Cyber Monday. The past Black Fridays saw far more deals for small appliances, cutlery, and kitchen gadgets on average than Cyber Monday. Cyber Monday is larger for fashion retail. On the past two Cyber Mondays, there were an average of 45% more clothing deals than on Black Friday. There were also 50% more shoe deals on Cyber Monday than on Black Friday.
Cyber Monday has become an international marketing term used by online retailers in Argentina, Canada, Chile, China, Colombia, Denmark, Germany, Ireland, Uganda, Japan, Portugal, Sweden and the United Kingdom.”