Cyber Monday 2017 arrives the first Monday after Thanksgiving, on November 27, 2017. It’s expected to be the biggest shopping day of the year, even bigger than Black Friday.
Many businesses look forward to holiday shoppers spending enough money to bring their profits back in the black so that they are operating with a positive balance. They often operate at a loss at different times throughout the year, or in the red, and make it up with events like holiday sales.
Before it was a planned event, retailers noticed that their sales spiked right after the Thanksgiving holiday, on Monday. Once they realized that it was something consumers wanted anyway, many retailers took advantage of the opportunity to have huge online sales, and Cyber Monday was born. The National Retailer Federation’s Shop.org came up with the name.
Cyber Monday shoppers by the numbers
- 75% start in the morning
- 25% shop at lunch
- 34% go online at night
- 19% take advantage of Cyber Week
As time has gone by, Cyber Monday has become a larger and larger event. In less than 10 years, sales have doubled, tripled and gone beyond that. More and more people have been taking advantage of online sales anyway, to avoid crowds and lines. Many Cyber Monday shoppers admit to shopping at work, to make sure they don’t miss out on limited time deals.
As some retailers start offering deals earlier, Cyber Monday has crept back to Sunday. Cell phones and home computers are now common enough and have good enough internet ability to use for online shopping.
Sales Breakdown by Year
- 6.6 Billion in 2016
- 3.04 Billion in 2015
- 1.5 Billion in 2012
- 0.887 Billion in 2009
What Happened to Black Friday?
Formerly the biggest shopping day of the year, Black Friday happens the day after Thanksgiving. Some stores start their Friday deals with an early Thanksgiving opening, and many businesses, like Wal-Mart, Best Buy, and Target, expect a lot of shoppers on Black Friday.
However, with the increase in online shopping, many of the best deals are being offered exclusively online. Many people are avoiding shopping on Black Friday because of the problems with waiting in line to be able to receive the deals.
What Are People Buying on Cyber Monday?
Many of the most popular deals are toys and electronics. People don’t just see holiday shopping as a time for buying gifts; they also often look for deals for themselves.
Popular items include televisions, screens, video game consoles, video games, and home items like appliances. Many families wait until they find good holiday bargains to take care of household needs. Blenders, dishwashers, and sewing machines are on sale.
Why Is Cyber Monday So Popular?
Retailers don’t just slash prices, they offer other incentives like free shipping and free items with purchase. When people can sit at home or at work and have their purchases sent to them at their convenience, it takes away their hesitation over buying online.
Many shoppers are also now heavily into social media, so they may “like” a company on Facebook or “follow” on Instagram, allowing them to get updates and reminders on sales and specials.
To continue to take advantage of their online consumers, many retailers are now offering special deals throughout the entire week. Amazon, for instance, has special “lightning deals” which shoppers can see ahead of time, and which Prime members can access first.
Cyber Week is an extension of Cyber Monday. While the deals throughout the week may not be as great, they are many and varied.
The one thing for sure regarding the Cyber specials is that retailers are doing well, and customers enjoy the sales and convenience of shopping online. Predictions for Cyber Monday 2017 are that sales will be even larger than the year before, and will continue to grow in the foreseeable future.