“Cyber Monday” historically has been seen as the online equivalent to “Black Friday,” the day after Thanksgiving, when box retailers open their doors in the off hours with steep discounts to create a buzz for holiday shopping.
Retailers brought that "buzz" online in earnest on Cyber Monday, with hopes to further the passion for buying in the virtual world.
All of which makes for an interesting holiday shopping season, which this year, moreso than in others, seems to have created a blending of special days and offers, with Black Friday deals starting early, on Thanksgiving Day, and Cyber Monday deals starting on Sunday and extending throughout the week.
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ShopperTrak, in a report dated Nov. 24, "estimates that, when compared to Black Friday last year, retail foot traffic rose 3.5 percent, to more than 307.67 million store visits." Still, "retail sales decreased 1.8 percent, however, with shoppers spending an estimated total of $11.2 billion" on Nov. 23.
“Black Friday continues to be an important day in retail,” said Bill Martin, ShopperTrak founder. “This year, though, more retailers than last year began their ‘doorbuster’ deals on Thursday, Thanksgiving itself. So while foot traffic did increase on Friday, those Thursday deals attracted some of the spending that’s usually meant for Friday.”
That trend for jumping the gun, so to speak, has extended into the online world of cyber shopping. As noted in the headline for a recent USA Today cover story, "Waiting for Cyber Monday? You Don't Have To" (see below).
SOME THINGS TO KNOW ABOUT 2012 CYBER MONDAY
Coining the Term ‘Cyber Monday’
- Credit Shop.org, a division of the National Retail Federation, for the term, “Cyber Monday.” "Though Shop.org gave the Monday after Thanksgiving a name, it hardly created the trend,” the division notes in an online fact sheet. That trend was recognized years ago, “when many retailers saw spikes in sales and traffic as consumers went back to work after the Thanksgiving Day holiday.” Shoppers are encouraged to visit CyberMonday.com for Cyber Monday promotions, noting deals from more than 800 online retailers.
Cyber Monday Highlighted Deals
Cyber Monday Reigns Supreme
While online spending "Thanksgiving Day is becoming a more important shopping event, it pales in comparison to the significance of Cyber Monday," according to a report from comScore.com. It continues:
"In 2005, when Cyber Monday first earned its moniker, spending on that day reached $484 million — about what Thanksgiving Day had last year. By 2011, it had reached an impressive total of $1.25 billion in spending and it remains the heaviest online spending day in history. Today it reigns as clearly the most important online day for retailers – one during which they can expect to generate considerable online sales but also gain all-important mindshare among consumers as they ramp up their spending over the weeks prior to Christmas."
Small Business Saturday Precedes Hyper-Cyber Push
- Cyber Monday follows “Small Business Saturday,” an effort started by American Express to support small business shop owners in their head-to-head battle with national chains.
Cyber Monday Gives Way To Cyber Week
"Waiting for Cyber Monday? You Don't Have To," reads the headline of a recent USA Today cover story. As noted: "Technology has put consumers in control of their online shopping smorgasbord, as the holiday rush is evolving into a Cyber Five feast."