One of the biggest shopping days of the year comes on the Monday following the Thanksgiving holiday, that event is called Cyber Monday.
The ter, Cyber Monday, made its official debut on November 28th, 2005 in a Shop.org press release called “‘Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year” and was initially coined by of the National Retail Federation Senior Vice President Ellen Davis.
The event was created in an effort to market to people in an attempt to get them to shop online and Cyber Monday has been met with great success, making it one of the top shopping days (or events) of the year.
According to Shop.org’s Scott Silverman the term Cyber Monday was coined primarily based on 2004 market research showing “one of the biggest online shopping days of the year” was the Monday following the Thanksgiving holiday.
According to comScore reported that online spending on Cyber Monday jumped 25% to $608 million in 2006, 21% to $733 million in 2007 and then 15% to $846 million in 2008.
The studies conducted by comScore also found that in 2009, online spending increased 5% on Cyber Monday to $887 million with 52.7 percent of sales coming from originated from work computers only furthering the validation of the Cyber Monday marketing event.
The first-ever $1 billion online shopping day, which generated a historic $1028M, happened in 2010, which was a 16% increase from the prior year.
Cyber Monday recorded their highest grossing day ever at $2.29 billion in 2013 and the following year, in 2014, the average planned expenditure is $361 per person
Cyber Monday has since gone global!
Cyber Monday came to Canada in 2008. Chile’s first Cyber Monday was on November 28th, 2011. Cyber Monday debuted in Argentina on November 11, 2014. Cyber Monday in Colombia first took place in 2012. Cyber Monday was first used in France in 2008 and Amazon.co.jp announced it registered as Cyber Monday with Japan Anniversary Association in 2012.
They join other countries who celebrate some form of Cyber Monday like Australia, Iran, India, Germany, Portugal, Sweden, New Zealand and more.
UK online retailers have referred to “Cyber Monday“, which falls on the same day as Cyber Monday does in the United States, as the busiest internet shopping day of the year
It’s clear that the impact of shopping events have created massive revenue holidays for retailers and have motivated shoppers to take advantage of the event’s advertised sales and discounts.
Cyber Monday is growing annually and is becoming a bigger shopping event than Black Friday, as many shoppers are preferring the ease of online shopping as opposed to the lines and crowds of going to the malls or stores.