Today, the Monday after Thanksgiving in the United States is traditionally one of the least productive workdays of the year. Workers all over the country (and the world) are using
their own money to buy gifts for family and friends, which is causing stress for their employers. The odds are good that you stumbled upon this post while searching for the best Cyber Monday deals. Don’t worry about it; I really don’t care.
Still, what exactly is Cyber Monday, and when did it start to gain the same significance as the other holidays this time of year? The question that really matters is, what will Cyber Monday do for your company? We need to go back in time to a decade if we want to find the answers.
What Is Cyber Monday?
The Monday after Thanksgiving in the United States is known in the world of online shopping as “Cyber Monday.” Black Friday is a shopping holiday celebrated by both traditional stores and their online counterparts by offering discounts,
sales, and other promotions to customers. In the meantime, conventional stores have started providing discounts that can only be redeemed through their online portals.
Some have interpreted this as evidence that the lines between Black Friday and Cyber Monday have blurred due to the increasing overlap between the two shopping events.
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The History Of Cyber Monday
Shop.org, an organization within the National Retail Federation, was the first to use the term in 2005.
Statistics showed that the first Monday after the widely celebrated American holiday of Thanksgiving has consistently been the busiest for online shopping. The company had two primary hypotheses to explain the occurrence.
The first hypothesis holds that on weekends, consumers scour stores and shopping centers in search of products they plan to purchase online later.
People had to wait until the start of the work week to use office computers to do their online shopping because they did not have access to smartphones, tablets, or high-speed internet at home.
There’s also the idea that it stems from people’s bad experiences on the weekends following Thanksgiving when everyone shops for sales and discounts.
A respite from the mayhem that typically characterizes Fridays and subsequent weekends, Cyber Monday offered online shoppers an alternative. It allowed people to buy useful items online while relaxing with a cup of coffee, skipping the long lines at stores that were selling those items at a discount.
Now that you know the background of this busy shopping day, let’s move on to the next section to differentiate between Cyber Monday and Black Friday.
Understanding Cyber Monday
Cyber Monday is always the Monday following Thanksgiving. The goal of its creation was to get more people to do their shopping online. While the day after Thanksgiving (Black Friday) continues to be the busiest shopping day of the year,
the arrival of COVID-19, along with other factors, led to $9 billion in online spending on Black Friday in 2020, and $10.8 billion on Cyber Monday.
In order to compete with both each other and their online counterparts, traditional brick-and-mortar retailers are devoting a growing portion of their resources to online sales.
The National Retail Federation anticipated that consumers would spend between $218.3 billion and $226.2 billion on holiday shopping online in 2021. Up to $27 billion of the $843.4 billion that consumers will spend between November and December can be attributed to this.
Numerous factors make Cyber Monday a consumer favorite. The long lines that form on Black Friday deter many people, and many others would rather not spend time away from loved ones on Thanksgiving Day in pursuit of a bargain.
On Cyber Monday, customers can find amazing deals without leaving the comfort of their homes. As an added bonus, many stores now provide free shipping on Cyber Monday, making online purchases even more appealing.
Cyber Monday Vs. Black Friday
Cyber Monday and Black Friday are not the same things, but they are different times of the year. The day after Thanksgiving is known as Black Friday,
while the Monday after is known as Cyber Monday. There is some overlap in dates because many stores have begun extending their sales past the initial 24-hour time frames of both shopping events.
The locations of sales are another key distinction between the two days of shopping. Black Friday sales are mostly limited to in-store events, though some do appear online, while Cyber Monday sales are available only online.
The Monday after Thanksgiving in the United States is known as “Cyber Monday,” an e-commerce term. It’s not uncommon for online stores to hold sales,
discounts, and other promotions on Black Friday, just like traditional stores. At the same time, conventional stores have started providing discounts that can only be redeemed through their online portals.