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Cyber Monday
Cyber Monday is a marketing term for the Monday after the Thanksgiving holiday in the United States. The term "Cyber Monday" was created by marketing companies to persuade people to online shopping|shop online. The 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".[1]
According to the Shop.org 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 2013, Cyber Monday online sales grew by 20.6% over the previous year, hitting a record $2.29 billion, with an average order value of $128.[2]
The deals on Cyber Monday are online-only and generally offered by smaller retailers that cannot compete with the big retailers. Black Friday is the best day to get cheap deals on technology with nearly 85% more data storage deals than Cyber Monday.
The day is another in the line of after-Thanksgiving retail promotional efforts like Black Friday and Small Business Saturday.
Origin of term
The term "Cyber Monday" was created by Shop.org, part of the U.S. trade association National Retail Federation.[3] It was first used within the ecommerce community during the 2005 holiday season. According to Scott Silverman, the head of Shop.org, the term was coined based on research showing that 77% of online retailers reported a significant increase in sales on the Monday after Thanksgiving in 2004.[4] In late November 2005, the New York Times reported that "The name Cyber Monday grew out of the observation that millions of otherwise productive working Americans, fresh off a Thanksgiving weekend of window shopping, were returning to high-speed Internet connections at work Monday and buying what they liked."[5]
References
- ↑ "'Cyber Monday' Quickly Becoming One of the Biggest Online Shopping Days of the Year". Shop.org. http://www.shop.org/c/journal_articles/view_article_content?groupId=1&articleId=623&version=1.0.
- ↑ "Fundivo - Cyber Monday Statistics"
- ↑ Hof, Robert D. (November 29, 2005). "Cyber Monday, Marketing Myth". Business Week. http://www.businessweek.com/bwdaily/dnflash/nov2005/nf20051129_9946_db016.htm. Retrieved 2007-11-16.
- ↑ "Shop 'til your mouse breaks: Etailers await "Cyber" Monday". CNN.com. November 28, 2005. http://money.cnn.com/2005/11/21/news/economy/cyber_monday/index.htm. Retrieved 2007-11-26.
- ↑ Michael Barbaro (November 11, 2005). "Online sales take off on 'Cyber Monday'". New York Times. http://www.nytimes.com/2005/11/30/technology/30iht-cyber.html?scp=12&sq=cyber%20monday&st=cse.
External links
- CyberMonday.com - Site sponsored by Shop.org
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