Understanding Cyber Monday
Cyber Monday falls exactly four days after the Thanksgiving feast. The purpose was to encourage people to shop online. Although Black Friday is considered one of the busiest shopping days, this wasn't the case in 2020, as Cyber Monday generated $10.8 billion in sales, surpassing the $9 billion mark of Black Friday.
Online shopping has become more enticing than ever before, and Cyber Monday provides multiple benefits for consumers. These days, many individuals prefer not to leave their families during the holiday season to snag a good deal, while others wish to avoid waiting in long lines at physical stores on Black Friday.
As a result, Cyber Monday offers a convenient way to shop and take advantage of Cyber Monday Deals. While Cyber Monday was initially a US phenomenon, it has now become a global event adopted by e-commerce companies worldwide to maximize sales during that period of the year.
Global Expansion of Cyber Monday
As mentioned earlier, Cyber Monday started its roots in the United States of America. Still, since then, it has become an international marketing term used worldwide. Currently, 28 countries drive heavy Cyber Monday sales in which the UK generates the highest retail value compared to the US, followed by Germany, Spain, Italy, Netherlands, Sweden, and Denmark.
Black Friday and Cyber Monday have driven companies to reach multiple markets and grow globally. This could include analyzing the purchasing habits of consumers to discover what appeals best in different nations and how to meet the demand in the best possible way.
History of Cyber Monday
Ellen Davis first coined the term ‘Cyber Monday' and was first used in the e-commerce world in 2005, during the holiday season. It was noted that the Monday after Thanksgiving was one of the biggest shopping days of the year.
As per one explanation, customers tend to avoid long queues and would often browse items in stores and malls during the weekend. However, they wait until Monday to make their purchases at work, taking advantage of the internet. Due to the lack of smartphones and computers, people in the early 21st century didn’t have this accessibility.
Cyber Monday Facts
Cyber Monday became a designated day for deals and discounts, emerging in popularity among users worldwide. Let’s look at some of the Cyber Monday milestones over the years.
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Sales in 2005 amounted to $484 million, reaching the $1 billion milestone in 2010.
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CNBC reported that for the first time ever in the year 2011, Black Friday and Cyber Monday merged into a single Thanksgiving shopping weekend.
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By 2016, It was reported that most retailers and e-commerce websites had moved from Cyber Monday to Cyber Monday week, allowing a wide range of deals over several days.
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Amazon was one of the leading companies in this movement, followed by Kohl's, which extended its Cyber sales in December.
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Due to Black Friday items quickly selling out and then being available again on Cyber Monday, consumers were able to find the best deals, resulting in Cyber Monday sales reaching $7.9 billion in 2019.
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The pandemic in 2020 saw the most purchases during the lockdown as people from all over the world started shopping in large quantities online. Sales on Black Friday hit $9 billion in sales, whereas deals on Cyber Monday hit a record-breaking $10 billion mark. The pandemic most likely played a significant role in this outcome. Black Friday regained dominance in 2021 and 2022, including internet purchases.
Difference Between Cyber Monday and Black Friday
The term Black Friday has its roots in the 1950s, whereas Cyber Monday emerged in 2005. Cyber Monday refers to the Monday following Thanksgiving when people resume their shopping activities after returning to work. Cyber Monday is by far the busiest online shopping day of the year, providing eCommerce companies with a gigantic sales opportunity.
Many tech business owners use the 'Black Friday Sales Season' to determine which discounts and promotions are successful and then use that information to increase their Cyber Monday sales. Businesses can boost their profits and ensure customer satisfaction by substituting unwanted offerings with compelling discounts.
Although traditionally, Black Friday sales are more focused on in-store deals, an increasing number of buyers prefer to look for deals online, and the concept of Black Friday as the start of the holiday shopping season is shifting from in-store to online for better deals and discounts. The period from Black Friday to Cyber Monday is now commonly known as “Cyber Weekend,” with discounts increasing and offering better deals as the sale progresses.
When is Cyber Monday?
Cyber Monday always falls on the Monday after Thanksgiving. This Year, Cyber Monday is on 27th November. This serves as an extension of Black Friday, allowing users to continue their bargain hunting.
To sum up, Cyber Monday has emerged as a day dedicated to discovering incredible online deals and discounts. Individuals can conveniently shop from their homes or offices, leveraging the power of the internet to access a wide range of fantastic offers. As Cyber Monday approaches on November 27th, make the most of this opportunity to secure the best deals and enjoy a delightful shopping experience.
