If you have been a constant online shopper, you might be aware of the greatest shopping day celebrations of the calendar which is known as the Cyber Monday. The etymology dates back to 2005 when the e-retailers found that there has been a substantial increase in the sales on the Monday after the U.S Thanksgiving. The term Cyber Monday was coined by Ellen Davis and Scott Silverman which quickly became the biggest online shopping days of the year after its debut in 2005. The day was created by retailers to encourage online shopping in the U.S and now it has spanned in more than 20 countries celebrating the enthusiasm of online shopping with great deals and discounts on the products.
The day falls in November usually, just four days after the Thanksgiving. But sometimes, if the Thanksgiving falls on November 27 or 28, then Cyber Monday can be shifted to December 2 and likewise. So, the range of the biggest online shopping day is November 26 to December 2.
Statistical evidence of Cyber Monday
As already mentioned, the day is marked with a substantial increase in the sales. According to the study, 77% of the online retailers claimed that the sales rose to its peak on the Monday after Thanksgiving. This has led to a trend that initiated a key driving concept of series of online discounts and promotions. You will be able to find the products at a much lower price or bundled with some other value products if you shop on the day. Cyber Monday has become, as many would recall, being an equivalent to black Friday that offers passage for small retailing websites to make their impact on the market and compete with larger chains.
Almost every store in the western cluster follows this day remarkably by setting some comprehensive and distinctive deals and promotions on their products. Based on exclusive research on the growth of online sales, it has been found that the graph is almost accelerating every year. Since inception, the sales increase has been at a rate of 15% year-on-year on an average. The online spending has become more common nowadays but the impact of the Monday after Thanksgiving is still prevalent. The reports show that the sales jumped from 2.2 billion USD in 2015 to 3.3 billion USD in 2017. The e-retailers expect to see the same growth in the following years and you should be looking out for major deals and discounts on online products.