Saturday, December 4, 2010

Week 9 EOC: What is Cyber Monday?

Cyber Monday is the Black Friday of the cyber world. It occurs the Monday immediately following Black Friday. The term originated in the 2005 holiday season by after research showed a 78% increase in online sales the Monday after Thanksgiving 2004. "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." (New York Times). This spike in internet shopping seems to be the cause of disappointed Black Friday Shoppers that didn't quite get everything on their list over the weekend. They turn to the internet after a long weekend of sleepless nights, running from store to store, fighting the lines and trying to catch the best deals. "As the official kick-off to the online holiday shopping season, Cyber Monday shoppers will scour the internet looking for holiday gifts from a variety of retailers, making sure to take note of specific prices and deals which offer them holiday savings," (Joan Broughton, Interim Executive Director of Online Retailers have been researching and tracking sales numbers for years now and have been seeing increasingly more people shopping online each year.
"Shoppers are surfing the Web in droves to take advantage of Cyber Monday’s sales and promotions, highlighting a new consumer shopping trend—increased online purchasing. In 2009, shoppers spent $887 million on Cyber Monday which was the second biggest online shopping day in history next to December 13, 2009, when online shoppers spent $913 million." (The Washington Informer). This year that record has been broken yet again."Online spending in the U.S. reached $1.028 billion this Cyber Monday, growing 16 percent over the same day last year and representing the heaviest U.S. online shopping day on record." (data from comScore).

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