The Monday after Thanksgiving is known as Cyber Monday comes on the very next Monday after Thanksgiving. It was designated a commercial holiday by Shop.org in 2005 and is well-recognized for its online shopping discounts.
Even more so than Black Friday, Cyber Monday has emerged as one of the busiest online shopping days of the year. According to Adobe, consumers spent $10.7 billion on Cyber Monday in 2021 as opposed to $8.9 billion on Black Friday.
When to look out for Cyber Monday?
The Monday following Thanksgiving is always known as Cyber Monday. It falls on Monday, November 28 in 2022. It falls on Monday, November 27, 2023.
Trends in Cyber Monday Sales
Although Cyber Monday discounts start at midnight, most people shop in the evening. On Cyber Monday 2021, between 7 and 11 p.m. Pacific time, consumers spent more than $2.8 billion, exceeding what Adobe refers to as the “Golden Hours” by about 50%.
Online sales were even more crucial during the 2008 crisis. Less shopping days followed Thanksgiving that year as well. The increased demand on Cyber Monday was a contributing factor. Sales on Cyber Monday surged eightfold between 2010 and 2020, according to Comscore data gathered by BlackFriday.com.
The amount spent online on Cyber Monday in 2020 reached a record $10.84 billion, however, it was less than expected. Sales, however, decreased slightly to $10.7 billion in 2021. According to Adobe’s Christmas shopping report, the rise in illness during the holidays is to blame for this decline. Despite this, it was still the most lucrative shopping day for merchants throughout the five days leading up to Thanksgiving in 2021.
The reason for the popularity of Cyber Monday
Because online shops provide discounts and deals on this day, Cyber Monday, it’s a popular shopping holiday. For consumers looking to start their Hanukkah, Christmas, and other holiday shopping, Cyber Monday is a terrific opportunity.
2020 was a very well-liked and historic year for Cyber Monday. More than 80% of buyers responding to a BlackFriday.com study indicated the COVID-19 outbreak had an influence on them. Due to the fact that many stores were going to be closed on Thanksgiving, customers might have turned to internet retailers. Additionally, retailers started running Cyber Monday bargains the entire week after Thanksgiving.
The majority of people choose to do their holiday shopping online. Due to the fact that you may purchase online from a computer or a smartphone at any time of day, internet shopping is frequently more convenient for time-pressed consumers.
More people than ever are making online purchases using their mobile devices. Nearly half (45%) of Americans use their cell phones to compare prices online while they are at a store. Another 12% of people have paid for something in-store using their phone.
The Effect on Retailers and Shopping Centers
Cyber Monday is a reflection of the expansion of online shopping. Shopping centers have been significantly impacted by the growth of online retailing. According to research from the State University of New York at Buffalo, Amazon is solely to blame for 96% of the fall in mall income.
Only 25% of America’s 1,200 retail malls, according to former JCPenney CEO Mike Ullman, will be around in 2023. Those that do so will benefit the top 20% of earners. Only malls that can draw an Apple or Tesla store will survive, according to Ullman.
Since 2018, retailers have filed for bankruptcy at record-high rates, with well-known names including Payless, FTD, and Barneys New York joining the list in 2019. The pandemic hastened the closure of physical stores. Famous chains like JCPenney, Stein Mart, and Neiman Marcus filed for bankruptcy in 2020.
Some Advice for Finding the Best Cyber Monday Deals
On Thanksgiving Day itself, popular retailers like Walmart, Amazon, and Target frequently launch their Cyber Week promotions. Signing up for their email newsletters is the easiest method to take advantage of their promotions.
You can also follow your favourite brands on social media to see promotions for Cyber Monday bargains.
Since Cyber Monday is all about online shopping, deals frequently include free shipping, but companies have also provided a range of price reductions. Free gifts with purchases are one example of another offer.
Look for discounts on clothing, furniture, and electronic items like TVs, headphones, and appliances.
A different choice is to go shopping with a friend. If a retailer or website has a two-for-one offer, you can each
Questions and Answers (FAQs)
What time does Cyber Monday begin?
The Monday following Thanksgiving is Cyber Monday, and it starts at midnight. It has a 24-hour duration and ends at 11:59 p.m.
During the 2005 Christmas season, whose website coined the phrase “Cyber Monday”?
According to a Bloomberg news piece dated November 29, 2005, which summarised Cyber Monday sales that year, Shop.org coined the phrase “Cyber Monday” during the 2005 holiday shopping season.