Learn extensively what Cyber Monday is. Explore its origins, impact on retail, and how it reshapes consumer behavior in this article.
Cyber Monday is a marketing term for the Monday after the Thanksgiving holiday in the United States. It is considered the online counterpart to Black Friday, which is the day after Thanksgiving and is traditionally associated with in-store shopping. Annually, $11.3 billion is spent by consumers on Cyber Monday–That’s quite a number!
Moreover, many retailers offer significant discounts and promotions on their products, especially through their online stores on Cyber Monday. This day has become one of the busiest online shopping days of the year, as people look for deals and discounts on a wide range of items, including electronics, clothing, and more.
It has grown in popularity with the rise of e-commerce, and many people use it as an opportunity to start their holiday shopping or to take advantage of sales for items they've been eyeing. While Cyber Monday originated in the United States, it has also gained traction in other countries in the world, where online retailers offer similar promotions and discounts around the same time.
A Brief History of Cyber Monday
The National Retail Federation's (NRF) online arm, Shop.org, is credited with coining the term Cyber Monday in 2005. It was developed to entice customers to shop online. In previous years, the trade association noticed, that online sales would frequently peak on the Monday following Thanksgiving.
Online merchants have been providing customers with substantial discounts ever since they launched. As Black Friday traditionally marked the beginning of the holiday shopping season with almost every store offering steep discounts, Cyber Monday emerged to cater to the increasing number of consumers turning to the Internet for their shopping needs.
Common Cyber Monday Traditions
Early Morning Shopping
Just as Black Friday has its early morning deals, some online retailers release Cyber Monday deals early in the morning. This encourages people to start shopping early and grab the best deals before they sell out.
Exclusive Online Deals
Retailers often provide special discounts and promotions specifically for Cyber Monday. These deals are typically offered online and may include free shipping, percentage discounts, or buy-one-get-one-free offers.
Flash Sales/Limited-Time Offers
Flash sales, where items are heavily discounted for a short period, are common on Cyber Monday. This creates a sense of urgency and encourages shoppers to make quick decisions.
Gift Card Promotions
Some retailers offer promotions where customers receive gift cards with qualifying purchases. This encourages shoppers to return to the store for future purchases.
How to Maximise Cyber Monday
To make the most of the online shopping deals during Cyber Monday, consider the following tips:
Plan Ahead
Research the items you want to purchase and make a list. Knowing what you're looking for in advance can help you stay focused and avoid impulse buying.
Set a Budget
Determine how much you're willing to spend on Cyber Monday. Setting a budget will help you prioritize your purchases and prevent overspending.
Check Multiple Retailers
Don't settle for the first deal you find. Check multiple retailers for the same product to ensure you're getting the best price.
Look for Bundle Deals
Some retailers offer bundle deals or package discounts–Shein for example. If you're buying multiple items or related accessories, consider looking for these bundled offers.
Use Promo Codes
Search for and apply any available promo codes during the checkout process. Some retailers provide additional discounts when you enter a specific code.
Optimize Loyalty Programs
If you're a member of loyalty programs, check for any special Cyber Monday perks or exclusive member discounts.
Take Advantage of Cashback Offers
Use cashback websites or apps that offer rewards for making purchases through their links. This can provide additional savings on top of Cyber Monday discounts
Shop Safely
Be cautious of phishing scams and only shop on secure websites. Avoid clicking on suspicious links in emails, and make sure the website's URL starts with "https://" to ensure a secure connection.
Consider Timing
Some deals may be time-sensitive, such as flash sales. Be aware of the timing of promotions and set reminders to check for deals during specific hours if necessary.
Get a Reliable Payment Option
Ensure that you have a secure and reliable payment option ready for Cyber Monday. One option to consider is the Bitnob virtual card. Download the Bitnob app and create your virtual card in no time. Bitnob offers a convenient and secure way to make online purchases, providing an added layer of protection for your financial transactions.
By combining these strategies, you can maximize your savings and make the most out of Cyber Monday shopping.
Final Words
From a mere marketing catchphrase, Cyber Monday has transformed into a worldwide phenomenon, fundamentally altering the landscape of holiday shopping. With the sustained growth of online commerce, Cyber Monday is set to maintain its key role in the retail calendar. Shoppers can expect more than just enticing deals; they will also witness a continually evolving digital environment, mirroring the dynamic nature of 21st-century e-commerce.