Finance:Cyber Monday

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Short description: Monday after the Thanksgiving holiday


Cyber Monday is a marketing term for e-commerce transactions on the Monday after Thanksgiving 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, 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] Cyber Monday takes place the Monday after Thanksgiving; the date falls between November 26 and December 2, depending on the year.

Cyber Monday has become the online equivalent to Black Friday and offers a way for smaller retail websites to compete with larger chains.[2] Since its inception, it has become an international marketing term used by online retailers around the world.

The shopping event, which originated in 1950 with retail stores lowering prices and extending hours, evolved into a global online phenomenon in 2000, boasting one of the highest worldwide sales, and subsequently inspired the creation of Cyber Monday in 2005. [3]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.[4] The Cyber Monday on November 30, 2020 (the first during the COVID-19 pandemic) was the biggest online shopping day in U.S. history with a total of $10.7 billion in online spending.[5]

History

The term "Cyber Monday" was coined by Ellen Davis,[6][7] and was first used within the ecommerce community during the 2005 holiday season.[8] 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).[9] Retailers also noted the most significant shopping 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."[10] At the time, a lot of people had slow Internet at home.[11] 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.[12]

In countries

Argentina

According to Argentine press and marked a tenfold growth in users taking advantage of online sales over the previous year.[13]

Australia

Beginning at 7 pm AEDT on November 20 in 2012, Australian online retailers decided to hold a similar event for the first time, dubbed "Click Frenzy". Many websites immediately crashed, went offline, or had major server issues, including the Click Frenzy promotion website. David Jones, a major retailer, ran a competing sale dubbed 'Christmas Frenzy' on the same date.

Belgium

In Belgium, Cyber Monday has gained popularity since 2016. Due to efforts off several major online shops launching large Cyber Monday campaigns, the average revenue during Cyber Monday has increased with 50% compared to the 2015 edition.[14] [15]

Canada

Cyber Monday came to Canada in 2008.[16] The National Post featured an article published on November 25, 2010, stating that the parity of the Canadian dollar with the United States dollar caused many Canadian retailers to have Black Friday and Cyber Monday sales of their own. According to the article, an estimated 80% of Canadians were expected to participate in Black Friday and Cyber Monday sales.[17] Speculation has been made that with all major US television broadcasters—which are typically available to Canadians—emphasizing Black Friday and Cyber Monday sales for stores that are also doing business in Canada, Canadian retailers needed to mimic sales offerings in order to keep Canadian dollars from being spent in the US.[17]

By 2011, around 80% of online retailers in Canada were participating in Cyber Monday.[16]

Chile

Chile's first Cyber Monday took place on November 28, 2011. The companies participating in the event are participants in the Santiago Chamber of Commerce's Electronic Commerce Committee.[18] In 2015 the Chilean Cyber Monday had 85 stores participating, 390.000 transactions and US$83 million in sales. 36% of that was mobile.[19] In 2016 Cyber Monday will be held on November 7. 140 companies are registered as official partners.

Colombia

The first Cyber Monday in Colombia took place on November 26, 2012. It was organized by the Colombian Chamber of Electronic Commerce and sponsored by the Ministry of IT and Telecommunications.[20]

France

Inspired by the U.S. phenomenon, the term Cyber Monday was first used in France in 2008.[21]

Germany

Amazon.de announced that it brought Cyber Monday to Germany in 2010.[22] As of 2014, amazon.de continues to advertise Cyber Monday and has extended it to an 8-day period ("Cyber Monday week") beginning on the Monday before Thanksgiving.

India

India got its own version of the Cyber Monday (Great Online Shopping Festival) on December 12, 2012 when Google India partnered with many e-commerce companies including Flipkart, Snapdeal, HomeShop18, Indiatimes shopping, and MakeMyTrip. Google said that this was the first time an industry-wide initiative of this scale was undertaken.[23] In November 2015, Google announced that the event would not be repeated.[24]

Japan

Amazon.co.jp announced it registered as Cyber Monday with Japan Anniversary Association in 2012. Amazon.co.jp ran the Cyber Monday Seven Day Sale from Dec 10 through December 16, 2012.[25]

Netherlands

In the Netherlands, the term Cyber Monday was first used in 2012. Since then, Dutch online retailers have taken advantage of Cyber Monday in promotional purposes, because it is perfectly timed before the celebration of Sinterklaas which is celebrated by buying gifts for each other in Netherlands. Since 2012, the popularity of Cyber Monday has grown strongly every year in the Netherlands. In total there were 105 participating online stores during the Cyber Monday period of 2017. During Cyber Monday 2019 the total of shops increased with 40 to 189 shops in total

New Zealand

Online retailer Belly Beyond held the first Cyber Monday Sale in New Zealand on November 29, 2010.[26] The sale lasted for five days, from Monday to Friday.

Portugal

In Portugal, the term Cyber Monday was first used in 2009.[27]

Romania

In Romania, Cyber Monday is the first Monday after Black Friday, which is held by the biggest retailers one week before the US Black Friday.

Sweden

In Sweden Cyber Monday is growing rapidly and several of the largest online retailers regularly launch Cyber Monday campaigns.[28] Cyber Monday was first established on larger online retailers in Sweden 2010.[29]

United Kingdom

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.[30]

United States

In 2006, comScore reported that online spending on Cyber Monday jumped 25% to $608 million,[31] 21% to $733 million in 2007,[32] and 15% to $846 million in 2008.[33]

In 2009, comScore reported that online spending increased five 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.[34] 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."[34]

In 2010, comScore reported the first-ever $1 billion online shopping day ($1028M), an increase of 16 percent over 2009.[35] In 2011, comScore reported that Cyber Week saw US consumers spend over $6 billion online from November 28 to December 2.[36] In 2012, comScore reported that Cyber Monday saw a 16% increase in sales from 2011, totaling $1.5 billion.[37] In 2013, Cyber Monday sales continued their growth and recorded their highest grossing day ever at $2.29 billion.[38]

In 2014, the average planned expenditure was $361 per person. 46 percent of people expect to pay with credit cards and 43 percent expect to pay with debit cards.[39] Sales are up 8.1%, 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.[40]

In 2016, according to Adobe Digital Insights,[41] Cyber Monday hit a new record with $3.45 billion, and which 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.[42]

In 2018, according to Adobe Analytics Cyber Monday hits a record $7.9 billion of online spending which is a 19.3% increase from a year ago.[43]

In 2019, according to Adobe Analytics, Cyber Monday mobile transactions totaled $3.1 billion with total online sales reaching a record $9.4 billion.[44]

Cyber Monday Online Sales of Desktop Computers
Day Year Sales
(millions
of USD)		 % Change
November 27 2006 $610 N/A
November 26 2007 $730 Increase 20%
December 1 2008 $846 Increase 16%
November 30 2009 $887 Increase 4.7%
November 29 2010 $1,028 Increase 16%
November 28 2011 $1,251 Increase 22%
November 26 2012 $1,465 Increase 17%
December 2 2013 $1,735 Increase 18%
December 1 2014 $2,038[45] Increase 17%
November 30 2015 $2,280 Increase 12%
November 28 2016 $2,671 Increase 17%
November 27 2017 $3,364[46] Increase 26%

See also

References

  1. ↑ "'Cyber Monday' Quickly Becoming One of the Biggest Online Shopping Days of the Year". Shop.org. http://www.prnewswire.com/news-releases/cyber-monday-quickly-becoming-one-of-the-biggest-online-shopping-days-of-the-year-55695037.html. 
  2. ↑ Swider, Matt. "Cyber Monday 2017" (in en). TechRadar. http://www.techradar.com/news/cyber-monday-2017-the-best-deals. 
  3. ↑ Yáñez, Diego; Fernández-Robin, Cristóbal; Améstica, Gonzalo; McCoy, Scott (2021). Meiselwitz, Gabriele. ed. "Consumer Attitude and Behavior During Black Friday and Cyber Monday" (in en). Social Computing and Social Media: Applications in Marketing, Learning, and Health. Lecture Notes in Computer Science (Cham: Springer International Publishing): 147–158. doi:10.1007/978-3-030-77685-5_12. ISBN 978-3-030-77685-5. https://link.springer.com/chapter/10.1007/978-3-030-77685-5_12. 
  4. ↑ "Cyber Monday Statistics and Trends". http://www.fundivo.com/stats/cyber-monday-statistics/. 
  5. ↑ Your brain on cortisol: Why overstressed gray matter is leading us astray in lockdown Elaina Patton, NBC News, December 25, 2020
  6. ↑ Tschorn, Adam (November 18, 2007). "Cyber Monday? Not so much". Los Angeles Times. https://articles.latimes.com/2007/nov/18/image/ig-online18. 
  7. ↑ Sutter, John D. (November 29, 2010). "Why 'Cyber Monday' is mostly myth". CNN. http://edition.cnn.com/2010/TECH/web/11/29/cyber.monday.hoax/. 
  8. ↑ "Celebrating "Cyber Monday"" (in en-US). https://www.cbsnews.com/news/celebrating-cyber-monday/. 
  9. ↑ Sabrina Barr (26 November 2018). "Cyber Monday: When is it and how is it different from black Friday?". The Independent. https://www.independent.co.uk/life-style/cyber-monday-black-friday-when-is-it-online-shopping-retail-thanksgiving-a8648106.html. 
  10. ↑ Michael Barbaro (November 11, 2005). "Online sales take off on 'Cyber Monday'". The New York Times. https://www.nytimes.com/2005/11/30/technology/30iht-cyber.html?scp=12&sq=cyber%20Thursday&st=cse. 
  11. ↑ Barron, Richard M. (November 23, 2017). "Cyber Monday overtakes Black Friday as top shopping day". News and Record. http://www.greensboro.com/business/local_business/cyber-monday-overtakes-black-friday-as-top-shopping-day/article_8a47c851-53c8-5a68-879e-313b3d7b22d6.html. 
  12. ↑ "Yahoo! Groups". https://groups.yahoo.com/neo/groups/web_advertising_roundtable/conversations/topics/525. 
  13. ↑ "Cyber Monday: creció 10 veces la cantidad de compradores" (in es). Clarín.com. November 11, 2014. http://www.clarin.com/sociedad/cyber_monday-descuentos_online-turismo-tecnologia-consumo_0_1246675383.html. 
  14. ↑ "Wanneer is Cyber Monday?" (in nl). BE. https://www.blackfridayexpert.be/wanneer-is-cyber-monday/. 
  15. ↑ "Quand commence Black Friday ?" (in fr). BE. https://codepromo.rtbf.be/black-friday. 
  16. ↑ 16.0 16.1 Canadian retailers fight back against Black Friday deals , Toronto Start 2012
  17. ↑ 17.0 17.1 "Retail therapy: Canadians prep for black Friday, cyber Thursday". National Post. November 25, 2010. http://arts.nationalpost.com/2010/11/25/retail-therapy-canadians-prep-for-black-friday-cyber-Thursday/. [yes|permanent dead link|dead link}}].
  18. ↑ (in es) Chile tendra su primer cyber Monday con ineditas ofertas en linea. Noticias. La segunda. November 2011. http://www.lasegunda.com/Noticias/Economia/2011/11/699639/Chile-tendra-su-primer-Cyber-Monday-con-ineditas-ofertas-online. 
  19. ↑ "Cyberday 2016" (in es-cl). http://www.cybermonday.cl/info.html. 
  20. ↑ "Celebre el primer cyberlunes oficial en Colombia" (in es). Cyberlunes.com.co. November 25, 2012. http://www.cyberlunes.com.co/noticia/celebre_el_primer_cyberlunes_oficial_en_colombia. 
  21. ↑ "Le 24 novembre, le Cybermonday débarque en France" (in fr). ZDNet (France). http://www.zdnet.fr/actualites/le-24-novembre-le-cyberThursday-debarque-en-france-39385034.htm. 
  22. ↑ "Amazon.de bringt Cyber Monday nach Deutschland" (in de). Presseportal (DE). http://www.presseportal.de/pm/8337/1709547/amazon_de_gmbh. 
  23. ↑ "Google partners e-commerce sites for 'Cyber Monday' on December 12". The Economic Times. December 4, 2012. http://articles.economictimes.indiatimes.com/2012-12-04/news/35594711_1_operations-rajan-anandan-google-india-md-online-travel-sites. 
  24. ↑ "Google logs out of its flagship Online Shopping Festival GOSF". The Economic Times. November 4, 2015. http://economictimes.indiatimes.com/tech/internet/google-logs-out-of-its-flagship-online-shopping-festival-gosf/articleshow/49643856.cms. 
  25. ↑ "Amazon.co.jp registered Cyber Monday with Japan Anniversary Association" (in ja). JP. https://www.amazon.co.jp/gp/press/pr/20121129/. 
  26. ↑ "The Accidentally-on-Purpose History of Cyber Monday". Esquire. http://www.esquire.com/the-side/feature/cyber-Thursday-online-shopping-4021548. [yes|permanent dead link|dead link}}]
  27. ↑ "Lojas online fazem uma semana de descontos loucos" (in pt). Jornal i (PT). http://www.ionline.pt/conteudo/34416-lojas-online-fazem-uma-semana-descontos-loucos. 
  28. ↑ "Näthandlarnas Cyber Monday slog nya rekord". Ehandel.se. 2013-12-04. http://www.ehandel.se/Naethandlarnas-Cyber-Monday-slog-nya-rekord,3364.html. 
  29. ↑ "Cyber Monday är redan här". Ehandel.se. 2011-11-29. http://www.ehandel.se/Cyber-Monday-aer-redan-haer,993.html. 
  30. ↑ Teather, David (November 23, 2009). "Amazon gets set for cyber Monday as Christmas shopping online clicks — Internet retailers are preparing for a deluge of online orders on their busiest day of the year in the lead-up to Christmas". The Guardian (London). https://www.theguardian.com/business/2009/nov/23/amazon-christmas-online-shopping-cyber-Thursday. 
  31. ↑ "Cyber Monday E-Commerce Spending Beats Forecast; Climbs 25 Percent Versus Last Year to $608 Million". comScore. November 2006. http://www.comscore.com/Press_Events/Press_Releases/2006/11/Cyber_Monday_E-Commerce_Beats_Forecast. 
  32. ↑ "Cyber Monday Spending Propels Holiday E-Commerce to Strong Week of More than $4 Billion in Sales". comScore. December 2007. http://www.comscore.com/Press_Events/Press_Releases/2007/12/Cyber_Monday_Holiday_E-Commerce. 
  33. ↑ "E-Commerce Spending Jumps 15 Percent on Cyber Monday to $846 Million, the Second Heaviest Online Spending Day on Record". comScore. December 2008. http://www.comscore.com/Press_Events/Press_Releases/2008/12/Cyber_Monday_Sales_Reach_846_Million. 
  34. ↑ 34.0 34.1 "Cyber Monday Online Sales Up 5 Percent vs. Year Ago to $887 Million to Match Heaviest Online Spending Day in History". comScore. December 2009. http://www.comscore.com/Press_Events/Press_Releases/2009/12/Cyber_Monday_Online_Sales_Up_5_Percent_vs._Year_Ago_to_887_Million_to_Match_Heaviest_Online_Spending_Day_in_History. 
  35. ↑ Anderson, Mae (December 1, 2010). "Cyber Monday biggest spending day online ever, firm says sales top $1 billion". Chicago Tribune. http://www.chicagotribune.com/business/sns-ap-us-holiday-shopping,0,5612342.story. 
  36. ↑ "'Cyber Week' Results in Record Online Spending of $6 Billion". WBNG. December 6, 2011. http://www.wbng.com/news/state/135055538.html/. 
  37. ↑ Taylor, James (October 7, 2020). "Cyber Monday Shopping Tips, Guides, Predictions, News & More". HugeCyberMondayDeals. https://www.comscore.com/Insights/Press-Releases/2012/11/Black-Friday-Billion-Kick-Off-to-Brick-and-Mortar-Shopping-Season-Surges-Past-1-Billion-in-E-Commerce-Spending-for-the-First-Time. 
  38. ↑ "CORRECTING and REPLACING Adobe Reports Record $2.29 Billion in Cyber Monday Sales" (in en-US). https://news.adobe.com/news/news-details/2013/CORRECTING-and-REPLACING-Adobe-Reports-Record-229-Billion-in-Cyber-Monday-Sales/default.aspx. 
  39. ↑ Menton, Jessica (November 19, 2014). "Black Friday 2014: Why Most Americans Won't Shop On Black Friday Or Cyber Monday". International Business Times. http://www.ibtimes.com/black-friday-2014-why-most-americans-wont-shop-black-friday-or-cyber-monday-1725906. 
  40. ↑ De Dios, Princess Eilaine. "Cyber Monday sales trend higher". https://www.usatoday.com/story/money/business/2014/12/01/cyber-week-deals-begin/19733541/. 
  41. ↑ "2016 Holiday Shopping: Up-To-The-Minute Data From ADI". http://www.cmo.com/adobe-digital-insights/articles/2016/11/8/2016-holiday-shopping-up-to-the-minute-data-from-adi.html. 
  42. ↑ "Online sales on Cyber Monday hit a new record – MOTHOD". November 30, 2016. http://mothod.com/trends/online-sales-cyber-monday-hit-new-record/. 
  43. ↑ Lauren Thomas (27 November 2018). "Cyber Monday sales break a record, with $7.9 billion spent online, Adobe Analytics says". CNBC.com. https://www.cnbc.com/2018/11/27/cyber-monday-sales-break-record-a-record-7point9-billion-spent-online.html. 
  44. ↑ Garcia, Tonya. "4 things to watch for in retail in 2020" (in en-US). https://www.marketwatch.com/story/4-things-to-watch-for-in-retail-in-2020-2019-12-27. 
  45. ↑ "Cyber Monday Exceeds $2 Billion in Desktop Sales for First Time Ever to Rank as Heaviest U.S. Online Spending Day in History". comScore. https://www.comscore.com/Insights/Press-Releases/2014/12/Cyber-Monday-Exceeds-2-Billion-in-Desktop-Sales-for-First-Time-Ever-to-Rank-as-Heaviest-US-Online-Spending-Day-in-History. 
  46. ↑ "Cyber Monday Sees $3.4 Billion in Desktop Online Sales to Rank as Top U.S. Online Spending Day in History". comScore. https://www.comscore.com/Insights/Press-Releases/2017/11/Cyber-Monday-Sees-3-Billion-in-Desktop-Online-Sales-to-Rank-as-Top-US-Online-Spending-Day-in-History. 

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