Black Friday is done. But holiday shoppers are switching to Cyber Monday. This 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”.
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 biggest period was December 5 through 15 of the previous year. Later Cyber Monday has become an international marketing term used by online retailers in Canada, the United Kingdom, Portugal,Germany and Chile.
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 2010, comScore reported that consumers spent $1.028 Billion online on Cyber Monday (excluding travel, 2009: $887M), the highest spending day of 2010.
In 2010, comScore reported the first-ever $1 billion online shopping day ($1028M), an increase of 16 percent over 2009. In 2011, comScore reported that Cyber Week saw US consumers spend over $6 billion online from November 28 to December 2.
In 2012, online holiday sales are expected to grow 12%, to $96 billion. That’s because 51.8% of people will take advantage of web-based sales, up from the 46.7% in 2011. On average, each person will do more than a third (38.8%) of their shopping online. (Source: National Retail Federation.
According to comScore chairman Gian Fulgoni, “comScore data have shown that Cyber Monday online sales have always been driven by considerable buying activity from work locations. That pattern hasn’t changed. After returning from the long Thanksgiving weekend with a lot of holiday shopping still ahead of them, many consumers tend to continue their holiday shopping from work. Whether to take advantage of the extensive Cyber Monday deals offered by retailers or to buy gifts away from the prying eyes of family members, this day has become an annual ritual for America’s online holiday shoppers.” Shoppers to Remain Conservative, October 17, 2012)
According to media, “nearly 130 million Americans said they would shop on Cyber Monday — a third more than last year. More than half said they’d shop from work — naturally, during lunch hour or right after work.
How to Get the Best Cyber Monday Deals? ” Retail sales can be found on CyberMonday.com, which features a schedule of what retailers offer deals at what times in a “Deal of the Hour” promotion. You can find sales from more than 800 online retailers. About.com Guide to Frugal Living suggests many coupon sites to make the Cyber Monday deals even better. See Cyber Monday Shopping Tips. (Article updated November 5, 2012.),” said Kimberly Amadeo in About.com Guide
” Fashionistas, Cyber Monday is your lucky day.
While Black Friday is the best time to buy consumer electronics, Cyber Monday is all about the big apparel sales — so take advantage of them.
“Expect to see some of the best sales of the year from Aeropostale, Armani Exchange, Reebok, The Children’s Place, Ann Taylor and many others,” Dan de Grandpre, CEO of DealNews.com, which scours the retail landscape for the best buys, tells Forbes.
For example, “Last year, Kohl’s started its clearance sales on kids’ clothing, with girls’ apparel from $1.60,” he said.
Bye-bye Black Friday. So long Small Business Saturday. Now, it’s Cyber Monday’s turn.
Cyber Monday, coined in 2005 by a shopping trade group that noticed online sales spiked on the Monday following Thanksgiving, is the next in a series of days that stores are counting on to jumpstart the holiday shopping season.
It’s estimated that this year’s Cyber Monday will be the biggest online shopping day of the year for the third year in a row: According to research firm comScore, Americans are expected to spend $1.5 billion, up 20 percent from last year on Cyber Monday, as retailers have ramped up their deals to get shoppers to click on their websites.
Amazon.com, which is starting its Cyber Monday deals at midnight on Monday, is offering as much as 60 percent off a Panasonic VIERA 55-inch TV that’s usually priced higher than $1,000. Sears is offering $430 off a Maytag washer and dryer, each on sale for $399. And Kmart is offering 75 percent off all of its diamond earrings and $60 off a 12-in-1 multigame table on sale for $89.99.
Retailers are hoping the deals will appeal to shoppers like Matt Sexton, 39, who for the first time plans to complete all of his holiday shopping online this year on his iPad tablet computer. Sexton, who plans to spend up to $4,000 this season, already shopped online on the day after Thanksgiving known as Black Friday and found a laptop from Best Buy for $399, a $200 savings, among other deals.”, said Forbes.
” There are a couple of theories as to why online sales increase on Cyber Monday, although some debate whether all retailers experience the same trend. One theory suggests that people see items in the shopping malls over the weekend and wait until Monday to buy them online, where they can compare prices, avoid lines and/or take advantage of free shipping or other offers. Another theory states that people have faster internet connections at work and, therefore, wait until then to make online purchases.”
Try these sites: