The term “Cyber Monday” was created by marketing companies to persuade people to shop online. The term was coined by Ellen Davis and Scott Silverman, and 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. The term “Cyber Monday” was coined by Ellen Davis, and was first used within the ecommerce community during the 2005 holiday season.
2. 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.
3. Cyber Monday 2016 was the biggest Cyber Monday yet, hitting $1.7 billion in online spending. That’s a 17% year-over-year increase.
4. Cyber Monday is social too! In 2016 on Facebook, referral traffic for top retailers spiked 240% compared to other average Mondays!
5. 6. In the past, the average amount spent online per person over Thanksgiving weekend was $172.42. Not too shabby. But the average online shopper spent $194.46 on Monday, nearly 13% higher.
6. In 2015, Cyber Monday online sales grew to a record $2.98 billion, compared with $2.65 billion in 2014. However, the average order value was $128, down slightly from 2014’s $160.
7. According to a 2009 The Guardian article, UK online retailers are now referring to “Cyber Monday” as the busiest internet shopping day of the year that commonly falls on the same day as the US Cyber Monday.
8. 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.
9. On a typical day, online sales peak at 11:25 AM EST.
10. On Amazon’s peak day, the retail giants sells up so 320 products per second.