Cyber Monday is the Internet’s answer to Black Friday deals. The official observance takes place the Monday after Thanksgiving.
While Internet-based companies traditionally offered their best holiday shopping on Cyber Monday to compete with Black Friday deals in brick and mortar stores, things have been changing. However, in more recent years, Black Friday and Cyber Monday deals tend to run together. Some start as early as the week of Thanksgiving and run right through the holiday season. But don’t neglect online deals. There may still be savings to be had.
- In 2014, Monday after Thanksgiving online sales continued to trend upward with 15.4% increase in revenue from 2013 sales, making it the biggest, online shopping day in history. In 2014 Americans spent an average of $124 per order on Cyber Monday.
- Cyber Monday was originally conceived by Ellen Davis, senior vice president of the National Retail Federation, and was first used in the e-commerce community during the 2005 holiday season. This holiday was based on research conducted by the NRF, which stated that one of the biggest shopping days of the year was the Monday after Thanksgiving.
- Demographics of those who shop on Cyber Monday is similar to the demographics of those who perform their shopping on Black Friday. The largest portion of shoppers falls into the 25 to 35-year-old range closely tied with those who are 65 and older.
- Referral traffic from social media goes up 240% on Cyber Monday.
- 18 to 24-year-olds accounted for over 18% of all shoppers.
- During Cyber Monday’s peak time Amazon will sell an estimated 320 products per second.
- In the US in 2011, 22% of employers fired their employees due to them using work internet for non-work related activities such as online shopping during Cyber Monday.
- According to research conducted by Accenture, Webrooming is the new trend. The term webrooming means that shoppers tend to browse items that they want to buy before actually going to the local store to purchase them.
- Showrooming also became a viral concept during the holiday shopping season. It refers to how buyers look for a local product and then check the same product online in an attempt to find a better price. Over 90% of shoppers consider discounts before buying and online shoppers tend to use price matching services to find better deals.
- The brutal holiday competition between Walmart and Amazon can perhaps be traced to Cyber Monday 2008, when Amazon’s traffic increased a whopping 21% year over year to beat Walmart’s 6% increase (according to data from site-metrics firm Hitwise). Amazon became the No. 1 retail site that year for Cyber Monday, putting Walmart in second place.
- In 2009, “Cyber Monday” started becoming “Cyber Week.” Walmart announced it would be offering five days of cyber deals. Other retailers followed in 2010.
- CNBC declared, in 2011, that Black Friday and Cyber Monday had merged into one long shopping weekend. Notably, Walmart, Best Buy and other big-box stores had begun unleashing deals online and in stores starting on Thanksgiving and limiting their doorbuster-only offerings.
- 2013 was the year fashion websites started capitalizing on Cyber Monday in a big way with sitewide discounts. This year set the standard for the 30%-to-50% off sitewide Cyber Monday discounts you find on clothing giants like ASOS, Ann Taylor, Old Navy and more.
- Since 2017 Black Friday and Cyber Monday were, in many ways, indistinguishable. The lowest prices on the year’s hot items (smart-home devices, gaming consoles and VR) were available online and stayed the same Thanksgiving through Cyber Monday. The holiday’s growth also shows no sign of slowing with more than $4 billion in sales in 2017.
- Average spending on Cyber Monday is on the increase. Heading into Cyber Monday 2019, the average consumer plans to spend $431 on Cyber Monday 2019 (up from an average planned spend of $415 in 2018) (Source: BlackFriday.com).
- Cyber Monday spending:
- 2005: $484 million
- 2010: $1.028 billion
- 2018: $6 billion