What is Cyber Monday ?

 BY : Pankaj Bansal , Founder at NewsPatrolling.com

 

Cyber Monday is an online shopping event that takes place on the first Monday after Thanksgiving in the United States. It originated as a way for e-commerce retailers to offer special promotions and discounts similar to Black Friday but focused on online sales.

A Detailed Overview

1. History:

• Origin: Coined in 2005 by the National Retail Federation (NRF) to encourage online shopping after Black Friday.
• Reason: Retailers noticed increased online sales on the Monday after Thanksgiving, likely because people returned to work and used office internet connections for faster shopping.

2. Why It’s Popular:

• Convenience: Shoppers can buy from anywhere with internet access.
• Exclusive Online Deals: Retailers often offer web-only discounts, free shipping, and flash sales.
• Global Participation: Major international e-commerce platforms like Amazon, eBay, and Alibaba offer deals.

3. Popular Product Categories:

• Electronics (laptops, smartphones, headphones)
• Fashion (clothing, shoes, accessories)
• Home appliances (vacuum cleaners, kitchen gadgets)
• Toys, games, and books
• Travel deals (flights, hotels, vacation packages)

4. Shopping Tips:

• Make a List: Prioritize items you need.
• Compare Prices: Use price comparison tools like Google Shopping.
• Set a Budget: Avoid overspending by setting a limit.
• Stay Secure: Shop from reputable websites and use secure payment methods.

5. Impact on Retail:

• Sales Records: Cyber Monday often surpasses Black Friday in total online sales.
• Economic Boost: It contributes billions of dollars in revenue to the global economy.

Key Features of Cyber Monday:

1. Online Deals: Retailers offer significant discounts on electronics, fashion, home goods, and more.
2. Global Event: While it started in the U.S., many retailers worldwide participate now.
3. Limited-Time Offers: Sales often last for 24-48 hours, though some retailers extend them into "Cyber Week."

Digital-First Focus: Deals are typically available on websites and shopping apps, making it convenient for shoppers.