The national retail federation in 2005 came up with the term Cyber Monday on their site shop.org after attesting to the increased sales volume by online retailers pegged at 77% on the day after Thanksgiving. The spike in online sales during this period was caused by the use of office internet by many to access online shops due to lack of speedy internet at home during the long Thanksgiving weekends. Work internet was faster and thus the preference of visiting the sites on the Monday preceding the holiday season in 2005.
With the increased reliability of the internet and the huge bargains, the day has gained wide popularity. Further, trust has permeated in the online shopping world driving the positive growth of Cyber Monday sales. A projection in sales this year has been slated to exceed 4 billion dollars pegged on the year to year growth of 9.4%.
Reputable retailers are falling all over themselves to offer crazy deals on a competition rampage to see who has the best deals at the earliest point. It is a fact that Cyber Monday has been turned into a cyber-week and November on online sales as a cyber-month. The increased speed of the mobile network and home internet services would seem to have weakened cyber Monday, however, the day has, however, become more popular akin to a social culture. From 2015 statistics, Cyber Monday sales have outpaced thanksgiving weekend sales by an average of 2% on year on year growth according to comScore indexes.
The key to online shopping is the convenience in availability, pricing, free shipping and availability of the product. This year, consumers are more likely to shop online at an earlier date for the convenience as mentioned above. ADI has determined that these factors are pivotal in influencing an online customer. Many a customer today know that there are fewer shopping days between Thanksgiving and Christmas. Very few will wait for Black Friday to start shopping. Timing is convenience according to the ADI after an analysis of 2000 online shoppers in 2013.
The notion of waiting until the end of the season to do shopping is a foregone era, Cyber Monday has prevailed since 2005, and better deals are to be found after the Thanksgiving weekend. A projection of 21% growth is expected with the current craze for offers and deals during the period. Expect huge discounts, Cyber Monday sales coupons and Cyber Monday ads invading the internet in droves. The growth of internet at home and on the go shall drive online shopping on Cyber Monday
Overall spending though expected to be flat this year, an average of an additional 30% of consumers may move to online portals to shop. This has been necessitated by a decline in mortar shops and the surge in online shopping platforms. The result will be more than double-digit growth in sales on Cyber Monday. To add to the increased sales is the surge by online retail giants and a flock of new startups. A surge in advertising in social platforms is a testament of things to come due to social attribution and influences within the society.
There are many reasons why shoppers are getting excited when someone mentions Cyber Monday. Of course, the main reason is the fact that they can buy their favorite products at a more than reasonable price. Unlike Black Friday where they have to “fight” for the things they
Even if you are not a passionate shopper, it is very likely that you have heard about these two terms – Black Friday and Cyber Monday. These shopping events are very important to both shoppers and store owners. If you take a closer look at these two
It is never too late or too early to start preparing for Cyber Monday. As an online store owner, you should know that this is one of the most important events of the year. Buyers are getting prepared for this day for weeks and it is up