After the rush of Black Friday has subsided, many Americans take to their computers in celebration of Cyber Monday.
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While not an official national holiday, Cyber Monday has rapidly spread across the United States since its recent introduction, propelling retail holiday profits in yet another manner. Although the event has only recently been introduced, it quickly escalated in popularity across the world. The online holiday can now be seen on retail website in several countries across Europe, Asia, and both North and South America.
What is Cyber Monday?
Cyber Monday is a large-scale online sales event. While online stores are already priced lower than brick and mortar stores due to their significantly reduced overhead costs, the holiday allows smaller online stores to compete with the big box store fronts that are associated with the Thanksgiving weekend rush. Unlike Black Friday, which is best for technology-based items, Cyber Monday sales seem to be greatly populated with clothes, shoes, and accessories.
The Origin of Cyber Monday
The concept behind Cyber Monday was drafted after The National Retail Federation (NRF) noticed a habitual drastic spike in web-based sales occurring on the Monday directly following Thanksgiving weekend. The NRF believed the spike to be due to consumers returning to their high-speed internet connections at their work places and purchasing items that they had seen while braving the Black Friday rushes over the weekend. NRF associates observed a noteworthy bump in internet-based sales in approximately seventy percent of online retailers across the nation.
The movement made its first public appearance in 2005. The name “Cyber Monday” can be credited to Tony Valado from 1800Flowers, but was first introduced by Shop.org, a division of The National Retail Federation. While increased web traffic on the Monday following Thanksgiving was not a new trend, it was thought that the amplified results following the official introduction was due to the fresh marketing push by the NRF. After the first official Cyber Monday came to a close, the numbers revealed an increase in online sales by twenty six percent.
With popularity of Cyber Monday growing in leaps and bounds annually, prices online fall to all time lows during the holiday. With the ability to compare prices on the web easier than when in store, online retailers have resorted to price wars, gashing prices and fueling addition purchases from consumers.
How to Maximize your Cyber Monday Experience
In order to capitalize on the time limits set for early bird specials, check promotional sites ahead of time. Most companies will publish Cyber Monday deals ahead of time, allowing you to plan out your online shopping journey. A quick internet search will produce websites and blogs that have taken the time to research and collect all of the event’s prospective deals, cataloguing them into one site for easier comparison. While researching the deals you will be targeting, take time to read the fine print on the electronic advertisements. You don’t want to reach the check out stage and realize that your purchase hasn’t fulfilled the required standards. Setting up accounts ahead of time with stores you plan to shop with on the holiday will also save an extensive amount of time.
Despite Cyber Monday being relatively new, its reputation has grown immensely. While employers beginning to crack down on non-work related internet use has put a slight damper on the holiday craze, it still continues to aid retailers in securing a profitable fiscal year. Growing in popularity, Cyber Monday provides a cost effective alternative to the hustle and bustle of the Black Friday crowds.