Cyber Monday is a major shopping event that takes place on the Monday after Thanksgiving and its associated sales day, Black Friday. Cyber Monday, which falls on November 27 this year, has become a lucrative day for the retail industry in the United States, and online retailers are known for offering deals, discounts and special promotions on that day.
However, many companies, including Amazon, have even announced that they will be offering Cyber Monday deals starting Saturday, November 25 this year. “Customers can expect deep discounts across categories including electronics, toys, home goods, fashion, beauty products and Amazon devices,” the company said in a press release.
Such deals are starting to catch on in India too, with companies like Amazon, Croma, Tata Cliq and Vijay Sales now offering discounts on a range of products.
History of Cyber Monday
The term Cyber Monday was first coined by the National Retail Federation in 2005, when they noticed that people continued their holiday shopping online while at work on the Monday after Thanksgiving. Like Cyber Monday, Black Friday was created by companies as a way to boost sales during the holiday season between November and December, leading up to Christmas. Since its inception, online retailers have been offering great discounts to consumers.
Experts believe that an increase in web traffic could stem from consumers having faster or more secure internet connections at work. Many also choose to shop on Mondays because they were unable to complete all their shopping over the Thanksgiving weekend.
With the growth of online shopping, online-only players like Amazon looked for a way to capitalize on Thanksgiving weekend sales. The Monday after Thanksgiving was dedicated to online sales, which set it apart from Black Friday,” said Katherine Cullen, NRF vice president of Industry and Consumer Insights.
Turnover increased from $484 million in 2005 to more than $11 million in 2022.
Click for more trending news