What is Cyber Monday?
Cyber Monday for those who are unfamiliar with the term is the Monday that follows " Black Friday". Don't worry if you have never heard of Cyber Monday, as it is a relatively new term, that has only come in to use in the last few years.
The reason Cyber Monday was born, was stores started to notice that their online sales suddenly soared on this Monday, for a few years in a row. The term made its appearance in a Shop.org press blog with the title "Cyber Monday' Quickly Becoming One of the Biggest Online Shopping Days of the Year" in 2005. No doubt that after all the celebrating of Thanksgiving, the nation are in form to concentrate on the next serious holiday of all time, Christmas.
If you think this Cyber Monday is just a flash in the pan, then think again. Online retailers have noticed an increase of anywhere between 15% and 25% increase in sales on this day.
What does Cyber Monday mean for online retailers?
It means that if you advertise and offer Cyber Monday discounts, that you will see a major increase in your sales activity, which does not traditionally tend to happen until around the week before Christmas for High street retailers.
The Centre for Retail research predicted that since Cyber Monday started in 2009, that spending figures have doubled. This is probably due to the last weekend of November/ First weekend in December, depending how it falls is usually the last payday for people who are paid monthly, before the arrival of Christmas.
So for retailers, if you have your Christmas stock, Cyber Monday is the day to advertise for and give your best discounts, or you may well be saddled with all that extra stock.
This Cyber Monday has also made yet another reason for retailers to battle it out however, because it means Canada had to hold the same sales in order to save their Canadian dollars from being spent outside of Canada. Who would have thought that buying your nanna a pair of slippers was so political?!
What does Cyber Monday mean for Shoppers?
It means that on the Thanksgiving weekend, you really need to be keeping your eye out for Cyber Monday advertising for discounts. You could save yourself quite a few Dollars just waiting a few days. It is worth waiting for Cyber Monday for this very reason, who wants to spend more for the same items? Especially when the retailers will all be vying for your custom. Just think what you could do with those saved dollars?
Start looking online the Black Friday before, search for online voucher codes. Amazon is a fabulous place for doing massive sales on such days as Cyber Monday. I would also keep your eye on your favourite retailers and have a good idea of what you will wish to purchase on the day.
Be aware that the internet will be flooded with shoppers and that you could well find that your favourite sites are struggling with the pressure on their domains. So be patient.