What is Cyber Monday
Cyber Monday is a digital marketing term for the Monday after turkey day. “Cyber Monday” was coined to persuade people to buy their gifts online. Making its debut November 28, 2005, in a Shop.org press release entitled “‘Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year”.
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 2013, Cyber Monday online sales grew by 20.6% over the previous year, hitting a record $2.29 billion, with an average order value of $128. Are you starting to get the idea yet, you cannot just build your website and expect to make a mint without the proper Digital Marketing Strategy.
The deals on Cyber Monday are available online-only and generally offered by smaller retailers that cannot compete with the big retailers. Black Friday is the best day to get cheap deals on technology with nearly 85% more data storage deals than Cyber Monday. The past Black Fridays saw far more deals for small appliances, cutlery, and kitchen gadgets on average than Cyber Monday. Cyber Monday is larger for fashion retail. On the past two Cyber Mondays, there were an average of 45% more clothing deals than on black Friday.
As I sit writing this in my local Starbucks a group of ladies sit down and talk shopping. One claimed “We only shop online now”. I chuckled and nodded my head with delight.