With Black Friday the day immediately after Thanksgiving, many people are wondering what exactly is Cyber Monday. In a nutshell, Cyber Monday is comparable to Black Friday, but the difference is all the sales/shopping is done online – hence, the term “cyber”. It is a marketing term for the Monday after Thanksgiving to persuade consumers to shop online instead of storefronts.
Instead of waking up early, having to find parking, and battling long lines and crowds to get the best sales prices, consumers can still get the best deals but the from convenience and privacy of their homes. Online retailers, capitalizing on the success of Black Friday, take advantage of the days immediately following Thanksgiving as consumers are starting their Christmas shopping. This is evident in the rising number of online sales transaction. According to Shop.org, “In 2013, Cyber Monday online sales grew by 20.6% over the previous year, hitting a record $2.29 billion, with an average order value of $128.”
Given Cyber Monday’s success for both online retailers and consumers, other countries have adopted this “shopping’ holiday and usually have it either in November or December. These countries include: Argentina, Canada, Chile, China, Colombia, Germany, Ireland, Uganda, Japan, Portugal, Sweden and the United Kingdom.