Following Black Friday, Cyber Monday is the day of the year, when huge sales happen for those who buy products online.
Find out more about Cyber Monday!
- Cyber Monday is a marketing term for the Monday after the Thanksgiving holiday in the United States
- It was created by retailers to encourage people to shop online
- The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman
- It 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”
- It is on the Monday after Thanksgiving, and most often falls in November
- But if Thanksgiving is on November 27 or 28, it will fall in December
- The date range is November 26 to December 2
- It is always four days after the holiday
- According to the Shop.org/Bizrate 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 2017, Cyber Monday online sales grew to a record of $6.59 billion
- Compared with $2.98 billion in 2015
- And $2.65 billion in 2014
- However, the average order value was $128, down slightly from 2014’s $160
- Cyber Monday has become the online equivalent to Black Friday
- It offers a way for smaller retail websites to compete with larger chains
- Since its inception, it has become an international marketing term used by online retailers across the world
- The term “Cyber Monday” was coined by Ellen Davis
- 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 2004 research showing “one of the biggest online shopping days of the year” was the Monday after Thanksgiving (12th-biggest day historically)
- Retailers also noted the biggest period was December 5 through 15 of the previous year
- In late November 2005, The New York Times reported: “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”
- At the time, a lot of people had slow Internet at home
- The idea for having such a holiday was created by Tony Valado, in 2003 while working at 1800Flowers.com
- And coined “White Wednesday” to be the day before Thanksgiving for online retailers
- In 2006, comScore reported that online spending on Cyber Monday jumped 25% to $608 million
- 21% to $733 million in 2007
- And 15% to $846 million in 2008
- In 2009, comScore reported that online spending increased 5 percent on Cyber Monday to $887 million and that more than half of dollars spent online at US Web sites originated from work computers (52.7 percent)
- Representing a gain of 2.3 percentage points from last year
- Buying from home comprised the majority of the remaining share (41.6 percent) while buying from international locations accounted for 5.8 percent
- According to comScore chairman Gian Fulgoni, “comScore data have shown that Cyber Monday online sales have always been driven by considerable buying activity from work locations. That pattern hasn’t changed. After returning from the long Thanksgiving weekend with a lot of holiday shopping still ahead of them, many consumers tend to continue their holiday shopping from work. Whether to take advantage of the extensive Cyber Monday deals offered by retailers or to buy gifts away from the prying eyes of family members, this day has become an annual ritual for America’s online holiday shoppers”
- In 2010, comScore reported the first-ever $1 billion online shopping day ($1028M)
- An increase of 16 percent over 2009
- In 2011, comScore reported that Cyber Week saw US consumers spend over $6 billion online from November 28 to December 2
- In 2012, comScore reported that Cyber Monday saw a 17% increase in sales from 2011, totaling $1.465 billion
- In 2013, Cyber Monday sales continued their growth and recorded their highest grossing day ever at $2.29 billion
- In 2014, the average planned expenditure is $361 per person. 46 percent of people expect to pay with credit cards and 43 percent expect to pay with debit cards
- Sales are up 8.1% as of 6 p.m. ET, according to IBM Digital Analytics
- The average order is $131.66, flat with last year, though the number of transactions is up and people are buying more items on average per order
- In 2016, according to Adobe Digital Insights, Cyber Monday hit a new record with $3.45 billion
- It was the first time that online sales in one single day surpassed $3 billion in US history
- The numbers went up 12.1% from the previous year
- In 2018, according to Adobe Analytics Cyber Monday hits a record $7.9 billion of online spending
- It is a 19.3% increase from a year ago
- U.S. employers have been cracking down on employees using company equipment and company time for non-work-related purposes, including Cyber Monday
- As of November 2011, 22% of employers had fired an employee for using the Internet for non-work related activity
- 7% of human resource managers surveyed had fired an employee for holiday shopping
- And 54% of employers were blocking employees from accessing certain websites
- According to CareerBuilder’s annual Cyber Monday survey, more than half of workers (53%) say they spend at least some work time holiday shopping on the Internet
- Up 3% from 2015
- Of this group, 43% spend an hour or more doing so
- Compared to 42% from 2015
- n 2020, the online sales on Cyber Monday reached $10.8 billion, making it the biggest ecommerce selling day of all time (CNBC, 2020).
- This represents a 15.1% increase from the total revenues of Cyber Monday in 2019 (CNBC, 2020).
- Surprisingly, the 2020 revenue total was actually lower than Adobe’s forecast, which was $12.7 billion (CNBC, 2020).
- Lending to Cyber Monday’s high revenues is the fact that traffic to brick-and-mortar stores was down by 42.3% during Cyber Week in 2020 (Forbes, 2020).
- The sales of brick-and-mortar stores also declined by 23.9% during Cyber Week (Forbes, 2020).
- During the peak hour of Cyber Monday 2020, 8:00 PM – 9:00 PM, the buying rate reached $12 million per minute (Statista, 2020).
- Moreover, the last four hours of Cyber Monday accounted for 25% of the day’s revenue (PracticalEcommerce, 2020).
- The gross merchandise volume in 2020 also increased by 74% year-over-year (BigCommerce, 2020).
- In addition, the average order value increased by 17% (BigCommerce, 2020).
- The US leads all countries in Cyber Week sales and experienced 67% growth YoY in gross merchandise volume (BigCommerce, 2020).
- An estimated 186 million shoppers purchased goods during Cyber Week 2020, 190 million fewer than that of Cyber Week 2019 (The Washington Post, 2020).
- Clicks on the sites of digital retailers went up by 46% on Cyber Monday in 2020 (ClickZ, 2020=
- 28 countries celebrate Cyber Monday (Campaign Monitor, 2019).
- Cyber Monday and Black Friday account for a 180% increase in lead acquisition compared to regular shopping days (Socital, 2020).
- In Europe, UK shoppers are the most aware about Cyber Monday, with a share of 89%, followed by shoppers from Germany (86%), Spain (85%), Italy (80%), Netherlands (70%), and Sweden (69%) (Simon-Kucher & Partners, 2020).
- Moreover, Cyber Week sales in the UK increased by 146% in 2020, placing the country at the 2nd spot in overall sales, behind only the US (BigCommerce, 2020).
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