Cyber Monday and Cyber Week
Posted by Aaron Li on
Cyber Monday
The term Cyber Monday, a neologism invented in 2005 by the National Retail Federation's division Shop.org,refers to the Monday immediately following Black Friday based on a trend that retailers began to recognize in 2003 and 2004. Retailers noticed that many consumers, who were too busy to shop over the Thanksgiving weekend or did not find what they were looking for, shopped for bargains online that Monday from home or work. In 2010, Hitwise reported that:
Thanksgiving weekend offered a strong start, especially as Black Friday sales continued to grow in popularity. For the 2nd consecutive year, Black Friday was the highest day for retail traffic during the holiday season, followed by Thanksgiving and Cyber Monday. The highest year-over-year increases in visits took place on Cyber Monday and Black Friday with growth of 16% and 13%, respectively.
In 2013, Cyber Monday online sales grew by 18% over the previous year, hitting a record $1.73 billion, with an average order value of $128. In 2014, Cyber Monday was the busiest day of the year with sales exceeding $2 billion in desktop online spending, up 17% from the previous year.
Cyber Week
As reported in the Forbes "Entrepreneurs" column on December 3, 2013: "Cyber Monday, the online counterpart to Black Friday, has been gaining unprecedented popularity—to the point where Cyber Sales are continuing on throughout the week." Peter Greenberg, Travel Editor for CBS News, further advises: "If you want a real deal on Black Friday, stay away from the mall. Black Friday and Cyber Monday are all part of Cyber Week ..."