December 1st 2014 will see the 9th annual ‘Cyber Monday’ take place globally. You may have heard of ‘Black Friday’ in the USA, the day after Thanksgiving where people turn in rabid animals trying to take advantage of huge discount sales. Well, Cyber Monday is the online equivalent.
The term first appeared in November 2005, where there was a concerted effort to get people to shop online, as a continuation of the Black Friday – online sales encouraged as people return to work after a long Thanksgiving weekend thinking of all the things they didn’t manage to get that weekend, or just able to shop for Christmas gifts more effectively without friends and family watching.
The phenomenon has been growing substantially since 2005 as it becomes more and more globalised. Since 2006, when Cyber Monday Online Sales were $610m (around £387.5m), sales have increased by around 20% every year. In 2013, an estimated $1,735m (around £1,102.4m) was spent online on Cyber Monday alone.* This year, it will undoubtedly increase again. Amazon UK have said they will not reveal which deals they are offering until the start of the weekend – but have promised over 3,000 deals will be available.**
The attraction and success of Cyber Monday for most (and where it brings the rest of the world in) is that online retailers have pounced on the idea and offers of big discounts can be found across most major online shops.
Although Cyber Monday offers much more safety than the frenzy of Black Friday, people should be aware that the risk of stock running out is likely. Therefore, we would recommend shopping online early. Bear in mind that in the USA, Thanksgiving weekend starts on the 27th November this year, so some online retailers will be preparing their price reductions and discounts as early as this. Keep an eye on your shops of choice and be aware of any sudden price drops.
Most of all, remember simple tips of Internet security – only shop with retailers you trust.
Will you be taking part in Cyber Monday? What do you think of the concept? Let us know in the comments.
*Source: comScore, Inc. (via Wikipedia)