Cyber Monday

Cyber Monday
Observed by United States, Canada, United Kingdom, Brazil, Portugal, Uganda, Germany, UAE, Egypt,[1] Chile, Colombia and Japan
Celebrations Shopping / Consumerism
Date Monday after U.S. Thanksgiving
2014 date December 1
2015 date November 30
2016 date November 28
2017 date November 27
Frequency annual
Related to U.S. Thanksgiving, Black Friday, Buy Nothing Day, Giving Tuesday, and Christmas

Cyber Monday is a marketing term for the Monday after the Thanksgiving holiday in the United States. The term "Cyber Monday" was created by marketing companies to persuade people to shop online. The term 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".[2]

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 2014, Cyber Monday online sales grew to a record $2.68 billion, compared with last year's $2.29 billion. However, the average order value was $124, down slightly from 2013's $128.[3]

The deals on Cyber Monday are online-only and generally offered by smaller retailers that cannot compete with the big retailers. Black Friday generally offers better 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. There were also 50% more shoe deals on Cyber Monday than on Black Friday.[4]

Cyber Monday has become an international marketing term used by online retailers in Argentina, Canada, Chile, China, Colombia, Denmark, Germany, Ireland, Uganda, Japan, Portugal, Sweden and the United Kingdom.

Origin of term

The term was first used within the ecommerce community during the 2005 holiday season. 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). Retailers also noted the biggest period was December 5 through 15 of the previous year.[5] 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."[6] The idea for having such a holiday was created by Tony Valado,[7] in 2003 while working at 1800Flowers.com, and coined White Wednesday to be the day before Thanksgiving for online retailers.

United States

Online spending

In 2006, comScore reported that online spending on Cyber Monday jumped 25% to $608 million,[8] 21% to $733 million in 2007,[9] and 15% to $846 million in 2008.[10]

In 2009, comScore reported that online spending increased 5 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.[11] 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.”[11]

In 2010, comScore reported the first-ever $1 billion online shopping day ($1028M), an increase of 16 percent over 2009.[12] In 2011, comScore reported that Cyber Week saw US consumers spend over $6 billion online from November 28 to December 2.[13] In 2012, comScore reported that Cyber Monday saw a 17% increase in sales from 2011, totaling $1.465 billion.[14] In 2013, Cyber Monday sales continued their growth and recorded their highest grossing day ever at $2.29 billion.

In 2014, the average planned expenditure is $361 per person. 46 percent people expect to pay with credit cards and 43 percent expect to pay with debit cards.[15] Sales are up 8.1% as of 6 p.m. ET, 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.[16]

Cyber Monday Online Sales
Source: comScore, Inc.
DayYearSales
(millions
of USD)		% Change
November 272006$610N/A
November 262007$730+20%
December 12008$846+16%
November 302009$887+5%
November 292010$1,028+16%
November 282011$1,251+22%
November 262012$1,465+17%
December 22013$1,735+18%
December 12014

Employers and online shopping

U.S. employers have been cracking down on employees using company equipment and company time for non-work-related purposes, including Cyber Monday. As of November 2011, 22% of employers had fired an employee for using the Internet for non-work related activity; 7% of human resource managers surveyed had fired an employee for holiday shopping; and 54% of employers were blocking employees from accessing certain websites.[17][18]

Other countries

Americas

Argentina

According to Argentine press, Cyber Monday was celebrated on November 11, 2014, and marked a tenfold growth in users taking advantage of online sales over the previous year.[19]

Canada

Cyber Monday came to Canada in 2008.[20] The National Post featured an article, in the November 25, 2010, edition, stating that the parity of the Canadian dollar with the US 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.[21] 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.[21]

By 2011, around 80% of online retailers in Canada were participating in Cyber Monday.[20]

Chile

Chile's first Cyber Monday took place on 28 November 2011. The companies participating in the event are participants in the Santiago Chamber of Commerce's Electronic Commerce Committee.[22]

Colombia

The first Cyber Monday in Colombia took place on 26 November 2012. It was organized by the Colombian Chamber of Electronic Commerce and sponsored by the Ministry of IT and Telecommunications.[23]

Asia

India

India got its own version of the Cyber Monday (Great Online Shopping Festival) on 12 December 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.[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 Dec 16, 2012.[25]

Iran

e-commerce development center of Iran plans to run 2nd e-Shop Festival before beginning of new year at 1394 Hijri. Mr. Garakaninejad (Presidential of e-commerce development center) in latest Congress of Industrial Management of Iran (23 Feb 2015), announced this year, festival held according to Cyber Monday [2] concept.

Europe

France

Inspired by the U.S. phenomenon, the term Cyber Monday was first used in France in 2008.[26]

Germany

Amazon.de announced that it brought Cyber Monday to Germany in 2010.[27] 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.

Portugal

In Portugal, the term Cyber Monday was first used in 2009.[28]

Sweden

In Sweden Cyber Monday is growing rapidly and several of the largest online retailers regularly launch Cyber Monday campaigns.[29] Cyber Monday was first established on larger online retailers in Sweden 2010.[30]

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.[31]

Oceania

Australia

Beginning at 7pm AEDT on 20 November 2012, Australian online retailers held 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. A major Australian retailer, David Jones, ran a competing sale dubbed 'Christmas Frenzy' on the same date.

New Zealand

Online retailer Belly Beyond held the first Cyber Monday Sale in New Zealand on 29 November 2010.[32] The sale lasted for five days, from Monday to Friday.

See also

References

  1. ↑ "'Cyber Monday in Egypt' Cyber Monday Egypt". Jumia.com.eg.
  2. ↑ 2.0 2.1 "'Cyber Monday' Quickly Becoming One of the Biggest Online Shopping Days of the Year". Shop.org.
  3. ↑ http://www.fundivo.com/stats/cyber-monday-statistics/
  4. ↑ "What's the difference between Black Friday and Cyber Monday?". Mirror.co.uk. Mirror.co.uk. Nov 28, 2013. Retrieved 2014-11-25.
  5. ↑ "Shop 'til your mouse breaks: Etailers await "Cyber" Monday". CNN.com. November 28, 2005. Retrieved November 26, 2007.
  6. ↑ Michael Barbaro (November 11, 2005). "Online sales take off on 'Cyber Monday'". The New York Times.
  7. ↑ "Yahoo! Groups".
  8. ↑ "Cyber Monday E-Commerce Spending Beats Forecast; Climbs 25 Percent Versus Last Year to $608 Million". comScore. November 2006.
  9. ↑ "Cyber Monday Spending Propels Holiday E-Commerce to Strong Week of More than $4 Billion in Sales". comScore. December 2007.
  10. ↑ "E-Commerce Spending Jumps 15 Percent on Cyber Monday to $846 Million, the Second Heaviest Online Spending Day on Record". comScore. December 2008.
  11. ↑ 11.0 11.1 "Cyber Monday Online Sales Up 5 Percent vs. Year Ago to $887 Million to Match Heaviest Online Spending Day in History". comScore. December 2009.
  12. ↑ Anderson, Mae (December 1, 2010). "Cyber Monday biggest spending day online ever, firm says sales top $1 billion". Chicago Tribune. Retrieved December 2, 2010.
  13. ↑ "'Cyber Week' Results in Record Online Spending of $6 Billion". WBNG. December 6, 2011.
  14. ↑ "Cyber Monday Prediction Results for 2012". BestCyberWeek.com. August 2013.
  15. ↑ Menton, Jessica (November 19, 2014). "Most Americans Won’t Shop On Black Friday Or Cyber Monday". Investing.com. Retrieved November 19, 2014.
  16. ↑ De Dios, Princess Eilaine. "Cyber Monday sales trend higher". Retrieved 2 December 2014.
  17. ↑ "Shopping On The Clock: Cyber Monday In The Workplace". aol.com. Retrieved November 27, 2011.
  18. ↑ "Staying Safe Online On Cyber Monday". http://www.cybermondaysniper.com/''.
  19. ↑ "Cyber Monday: creció 10 veces la cantidad de compradores". Clarín.com (in Spanish). November 11, 2014. Retrieved November 12, 2014.
  20. ↑ 20.0 20.1 Canadian retailers fight back against Black Friday deals, Toronto Start 2012
  21. ↑ 21.0 21.1 "Arts". National Post. November 25, 2010 .
  22. ↑ "Chile tendra su primer cyber Monday con ineditas ofertas en linea" (in Spanish). La segunda. November 2011
  23. ↑ "Celebre el primer cyberlunes oficial en Colombia" (in Spanish). November 25, 2012
  24. ↑ "Google partners e-commerce sites for 'Cyber Monday' on December 12". Economic Times. December 4, 2012. Retrieved December 31, 2012.
  25. ↑ "Amazon.co.jp registered Cyber Monday with Japan Anniversary Association" (in Japanese). JP. Retrieved December 1, 2012.
  26. ↑ "Le 24 novembre, le Cybermonday débarque en France". ZDNet (in French) (France). Retrieved August 24, 2010.
  27. ↑ "Amazon.de bringt Cyber Monday nach Deutschland". Presseportal (in German) (DE). Retrieved November 3, 2011.
  28. ↑ "Lojas online fazem uma semana de descontos loucos". Jornal i (in Portuguese) (PT). Retrieved November 18, 2010.
  29. ↑ "Näthandlarnas Cyber Monday slog nya rekord". Ehandel.se. Ehandel.se. 2013-12-04. Retrieved 2014-11-25.
  30. ↑ "Näthandlarnas Cyber Monday slog nya rekord". ehandel.se. ehandel.se. 2013-12-04. Retrieved 2014-11-25.
  31. ↑ 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". London: The Guardian. Retrieved November 23, 2009.
  32. ↑ "The Accidentally-on-Purpose History of Cyber Monday". Esquire. Retrieved November 29, 2010.