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What is Cyber Monday and its Impact on the U.S Economy

By on October 28, 2014 in Online Deals with 0 Comments

Just like Black Friday, Cyber Monday is term which is created by marketers and retailers to boost up their sales. Cyber Monday is actually the Monday followed by Thanksgiving in United States. When online retailers thought that Black Friday is not enough, they came up with a new invention called ‘Cyber Monday’ which is actually same as Black Friday. On this day, online stores and shopping websites attract customers by offering huge discounts and amazing deals. People who are not satisfied by their Black Friday shopping, wait for Cyber Monday, to quench their shopping thirst.

Cyber Monday Sale

 

Cyber Monday Sale

Cyber Monday is just a gimmick to encourage people to shop online, this term made its debut on November 28, 2005 which was the day when Cyber Monday was first celebrated.

When is Cyber Monday in 2014?

The Monday followed by the Thanksgiving in United States is known as Cyber Monday. Since Thanksgiving in 2014, falls on November 27, which is Thursday, this means that Cyber Monday will fall on December 1, 2014. Since it is the start of the last month of the year, people are already seeking for affordable and best deals, which can bring happiness without costing a fortune, so Cyber Monday acts as the heaven sent for such shoppers.

Why Cyber Monday 2014 is Important?

The terms Black Friday and Cyber Monday have became online shopping festivals, shoppers wait entire year for these events, so that they can make big purchases at most affordable prices. This build the foundation for these events, since 2005, we have seen huge growth in Cyber Monday sales, the sales have increased with each passing year, touching new heights every year. Below is a graph which shows the money people casino spent on online shopping during Cyber Monday (the figures is in millions)

Cyber Monday Sales Figure

Cyber Monday Sales Figure

So the graph proves that by each passing year, Cyber Monday became more popular, more and more people started shopping online and the sales rocket boosted up.

After looking at these figures, more and more retail stores and online shopping websites started to offer Cyber Monday deals to its customers, this increased their sales, so it was a win-win thing for both customers as well as the companies. By each passing year, the importance of Cyber Monday grew and it became the day of the year when the online sales are highest, which in itself is a big achievement.

What Impact it has on U.S Economy?

History is the witness, people have dropped billions of dollars during the Black Friday-Cyber Monday week, and this is an impressive figure and has a very significance effect on U.S. Economy. Surveys show that people start their online shopping from the midnight of Thanksgiving, in U.S many retailers keep their stores open at midnight and they”ve found success doing that. In 2011, the market research firm ComScore reported that the online sales totaled $479 million on Thanksgiving day 2011. The figures rose up on the Black Friday 2011 and reached at $816 million and even higher on Cyber Monday. The reported Cyber Monday sales in 2012 were $1.5 billion and last year (2013) sales were reported to be over $2 Billion. With the increasing figures every year, the American economy seems to get better every year.

It is said that most Americans (approximately 75%) start their Cyber Monday shopping on Sunday itself. As Christmas is approaching, the stores will be overcrowded by females shouting-their-lungs-out, here Cyber Monday helps because you can shop online with huge discounts. Many people prefer shopping online, so that they can avoid crowd, either way you’ll make huge savings on your shopping.

These reports prove that Cyber Monday plays a very important role in the growth of U.S Economy and indeed is the largest online shopping festival.

I hope this article was interesting and helpful, please give us your feedback by leaving comments.

About the Author

About the Author: A tech blogger, a Dentist by profession. Shares tips and news about the latest technology, and majorly on Apple and its products! .

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