Cyber Monday is observed every year on the Monday after Thanksgiving in the United States. It is the marketing term for e-commerce transactions. This year, Cyber Monday 2022 will be celebrated on November 28 during which shoppers can expect a number of deals across the US. The day was created by retailers to encourage people to shop online. As Cyber Monday is marked after the shopping event ‘Black Friday’, you can try your hands on a variety of deals. Black Friday 2022 Date: Know the History and Significance of the Day That Marks the Start of the Shopping Season in the United States.
History of Cyber Monday
The term ‘Cyber Monday’ was coined by Ellen Davis of the National Retail Federation and Scott Silverman. The term was first used within the e-commerce community during the 2005 holiday season. The term made its debut on November 28, 2005, in a Shop.org press release titled “Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year”. Cyber Monday takes place the Monday after Thanksgiving and the date falls between November 26 and December 2, depending on the year.
According to Scott Silverman, the head of Shop.org, the term was coined based on 2004 research showing that one of the biggest online shopping days of the year was the Monday after Thanksgiving. Retailers noted the most significant shopping period was December 5 through 15 of the previous year.
Significance of Cyber Monday
Cyber Monday has great significance in the US as the day has become the online equivalent of Black Friday. It offers a way for smaller retail websites to compete with larger chains. Although Cyber Monday had its origins in the United States, it now happens in other countries as well. Since its inception, Cyber Monday has become a marketing term used by online retailers around the world. The day provides consumers with a convenient, hassle-free way to shop and get their hands on some great deals.
According to records, Cyber Monday online sales grew to a record $6.59 billion in 2017, compared with $2.98 billion in 2015, and $2.65 billion in 2014. However, the average order value was $128, down slightly from 2014’s $160. Cyber Monday on November 30, 2020, was the biggest online shopping day in U.S. history with a total of $10.7 billion in online spending.
(The above story first appeared on Morning Tidings on Nov 24, 2022 12:25 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).
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