Cyber Monday 2016

Cyber Monday is the online shopping day on the Monday following Thanksgiving in the United States. It started in 2005 to encourage online shopping. Retailers saw that some consumers stayed to buy after Black Friday and created this day to drive online sales. The day after Cyber Monday has grown into one of the biggest shopping days of the year.

 

Growth of Cyber Monday

 

Cyber Monday started with modest sales. Shoppers spent around $484 million in their first year. But that amount increased rapidly. By 2019 sales reached USD 9.4 billion. Recent years have seen spending increase - consumers spent over USD 12 billion by 2023 alone. This growth reflects how important Cyber Monday has become for consumers and retailers.

 

Some shop with their smartphones on this day. In fact, mobile devices account for about 43% of all purchases. This trend shows the shift towards online shopping and its convenience. Some retailers give big discounts or promotions to lure shoppers in. Also common: free shipping.

 

Shopping Trends

 

Cyber Monday draws many types of shoppers. In 2023, around 66% of consumers planned to take part. More young shoppers are participating than older generations, including millennials and Gen Z. Most shoppers search this time of year for deals on electronics, clothing, and home goods.

 

Retailers prepare for Cyber Monday extensively. The aim is to provide good prices and easy shopping. Stores such as Target and Walmart typically do best in sales during this event. Most consumers find deals on retailer websites and social media.

 

Cyber Monday became a worldwide shopping event. In sales and popularity, it now rivals Black Friday. Cyber Monday likely will remain a big date on the shopping calendar as e-commerce continues to grow.

 

You might also want to read about Black Friday, its history, traditions and customs, symbols, and observance.