Monday, November 26, 2018

First Black Friday, Then Cyber Monday

Cyber Monday, Sales, Discount, PromotionCyber Monday is a dday that many people wait for because it means they do not have to fight crowds at the local stores to get a good deal.  I hate going into town on Black Friday, I usually wait till Cyber Monday to do all my shopping.

The term "Cyber Monday" was first coined in 2005 by Ellen Davis at the National Retail Federation.

People at the National Retail Federation noticed a spike in sales the Monday following Black Friday.  They theorized it was because once people got back to work, they could shop online without distractions and modem speeds had increased to a point where it was easier to shop online. Based on this observation, the National Retail Federation released a statement declaring the Monday after Black Friday as "Cyber Monday" because 77 percent of the  retail businesses noticed a significant increase on that day.

The New York Times published the information and it was noticed that sales that year hit just about half a billion, an increase of 26 percent from the previous year.  It took several years for the public to accept it as a regular shopping day and many retailers didn't see it as anything special until 2014 when sales hit two billion dollars that day, making it one of the biggest sales day in history.

The line between Black Friday and Cyber Monday have blurred to the point that sales occur beginning on Thanksgiving and ending on Cyber Monday. Furthermore, due to heavy competitions between companies such as Wal-mart and Amazon, Cyber Monday became Cyber Week which is now quite standard

The latest statistics say in 2015, sales for Cyber Monday were $2.98 billion while it jumped to $6.59 billion two years later.  Many companies deeply slash desirable items to jump start everyone's purchases.  Many companies deeply discount clothing, laptops, and gaming systems to get people shopping. The idea is for this strategy to get shoppers thinking of what they can get others for Christmas.

Since then, the idea of Cyber Monday has caught on in other countries such as the United Kingdom, New Zealand, and Canada. 

If you are wondering?  Yes I do shop the Black Friday and Cyber Monday sales online because the closest store to my house is not much bigger than a convenience store.  I can't visit stores at 5 AM to check out the television, underwear and socks so his is the best I can.  Let me know what you think, I'd love to hear from you.  Have a great day.

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