Cyber Monday is the Monday following Thanksgiving in the US, when online retailers start their holiday sales. The term was coined in 2005 by the US National Retail Federation’s Shop.org, and online sales have doubled since then. Many retailers offer discounts and savings opportunities for web customers on Cyber Monday, but it isn’t necessarily the only time discounts are offered. The internet is not just a sales channel, but also a marketing tool, and many consumers research their purchases online before shopping.
Cyber Monday is a name for the Monday following Thanksgiving in the United States, when many online retailers begin their holiday sales. The name was inspired by “Black Friday”, the Friday after Thanksgiving, which marks the traditional start of the holiday shopping season for retailers, those with physical stores, offering deep and special discounts to attract shoppers vacation. The US National Retail Federation’s Shop.org coined the term in 2005 based on a clear increase in Internet traffic and sales on the first day most people return to work after the four-day weekend.
Is Cyber Monday Invented?
Although the name “Cyber Monday” was invented as a marketing term, there is evidence to support the notion that online sales spike shortly after the US Thanksgiving holiday. Since most of the Christmas shopping starts in the US, sales across retailers tend to be higher overall this time of year. Many stores that offer pre-holiday and Black Friday sales extend those discounts to the internet and often offer different or additional sales that are only available online. Analysts also say that Internet traffic tends to increase on Mondays as workers return to the office; Although about 2/3 of US households have a broadband Internet connection, a large amount of online shopping is still done from computers in the workplace.
The Monday after Thanksgiving isn’t always the biggest day for Internet sales, usually coming the Monday following December. For many retailers, customers need to order at least a week or two before the holidays if they want their gifts delivered by Christmas, and this is often the busiest time for online sales. Some electronics retailers even save their best sales for Christmas.
The Cyber Monday idea caught on with consumers, however, and sales for that day soared dramatically. Between 2006 and 2011, online spending doubled, to over $1.2 billion USD on the Monday after Thanksgiving. The idea has also spread across the globe, with retailers in a number of countries including Canada, the UK, and many more in Europe offering deals on this day.
Are these Monday’s best sales?
Many online retailers offer discounts and savings opportunities for web customers who receive their orders on Cyber Monday. Some online businesses even offer incentives and savings options for first-time customers, as well as free shipping. Because the term was specifically designed to be a marketing tool, many retailers use it as a way to promote sales early in the season.
Cyber Monday isn’t necessarily the only time discounts are offered. While they may promote on the Monday after Thanksgiving, many sites have Black Friday sales that begin the previous week or “Cyber Week” sales that run through the entire following week. While many of the best deals appear to be offered early in the season, most internet retailers will offer discounts during the holiday shopping season.
The role of smartphones
A small but growing percentage of online vacation sales are also made via mobile phones. As more and more consumers have smartphones with internet access, comparison shopping has become even easier. A growing number of retailers have apps that allow consumers to search for products in the store before making a purchase. This allows the prospective buyer to compare the item they are considering with other similar products, see if there is a better deal available online, and immediately make the purchase over the phone.
How the internet affects store sales
The Internet is not just a sales channel; many consumers research their purchases online before shopping. Many retailers have realized that even for those people who prefer to buy their gifts in stores, the internet can still be a great marketing tool. Online retailers typically offer a wealth of information along with high-resolution images of their products so consumers can research them and make purchasing decisions before heading out to shop. While many of the shoppers who visit online stores on Cyber Monday may not buy their gifts online, the research they do could lead to in-store purchases a few days later.
This influence also works in the other direction. Some Cyber Monday sales could be the result of people failing to find what they were looking for – or the price they were looking for – during their Black Friday weekend shopping. For other consumers, seeing the product in the store can help them decide if it’s what they want; they can choose to defer their purchase until they can do more comparison shopping online, however.
Many retailers use the Internet in other ways to promote shopping both online and in physical stores. Online advertising is very common, as stores advertise in-store deals on their websites and via email newsletters. Email coupons have become very popular and often include special codes that allow the same discounts to be credited to in-store or online purchases. Smartphone apps alert consumers to special offers and can include mobile coupons that don’t need to be printed.
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