Cyber Monday is a holiday that occurs the Monday after Thanksgiving and features massive online shopping sales. Retailers created it to encourage people to shop online rather than shopping in stores. On November 28, 2005, it made its debut in a press release entitled “Cyber Monday”. It soon became the biggest online shopping day of the year.
According to Shop.org, “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 2017, Cyber Monday sales blew the roof sealing 6.59 billion dollars, while sales in 2015 were just 2.98 billion dollars and 2.65 billion dollars in 2014. The average order value was 128 dollars, down slightly from 2014. Cyber Monday has become the online equivalent of Black Friday, and it offers a way for smaller retail websites to compete with larger chains.
Research showed that last year’s Cyber Monday average savings (per user, per purchase) peaked at 21%, while Black Friday savings peaked at 18.5%. Black Friday is more for items that people will likely buy once a year or less, you’ll probably find better discounts than Cyber Monday. Anything you’d consider as a gift will likely have better discounts on Cyber Monday. Although Black Friday has been around much longer than Cyber Monday, the new holiday can be seen as the future of online shopping and sales, and it could someday replace Black Friday.
