Cyber Monday is observed annually on the Monday after Thanksgiving.
Cyber Monday was developed as a way for Internet-based companies to have a way to compete with Black Friday, which is typically held by brick and mortar retail stores the Friday after Thanksgiving.
In 2014, Cyber Monday online sales continued to trend upward with 15.4% increase in revenue from 2013 sales, making it the biggest, online shopping day in history. In 2014 Americans spent an average of $124 per order on Cyber Monday.
Social media has also ramped up the advertising opportunities, bringing potential shoppers to retailers’ online stores. Cyber Monday shopping is expected to be up again this year with a predicted 3 billion in sales.
Purchases on mobile devices also have increased, adding to the convenience of Cyber Monday. No longer do you have to be strapped to your PC or Mac in order to make an online purchase. Purchases can now be made on the train during a morning commute while waiting for a doctor’s appointment or during a lunch break.
Some of the most popular online purchases are likely to be tech items, especially wearable technology as well as the traditional small appliances, clothing, gift cards and digital media.
HOW TO OBSERVE
Get your computer out and enjoy those online deals. Use #CyberMonday to post on social media.
On November 28 of 2005, Cyber Monday joined the lexicon thanks to a press release in Shop.org. The announced a marketing revolution with a title “Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year” with astounding online sales increases the Monday following Thanksgiving.
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