What is Cyber Monday?: Cyber Monday, which happens on the Monday following Thanksgiving, has become a massive day for online shopping deals. Originally, it was created to balance out the Black Friday craze. While it started with a focus on tech deals, now it covers all sorts of products.
According to reports, this year’s Cyber Monday, on November 27, is expected to be the peak of online shopping in the US. E-commerce sites are rolling out discounts, averaging 30 Per Cent on electronics and 19 Per Cent on furniture. Shoppers are anticipated to break records, possibly spending $12 billion which is a 5.4 Per Cent increase from last year.
History of Cyber Monday
Notably, In 2005, the National Retail Federation (NRF) came up with the term “Cyber Monday” to encourage post-Black Friday online shopping. The idea was to tap into people’s faster work internet connections. Over time, this online shopping day has gone global, embraced by countries like Canada, the UK, and Japan.
Difference Between Cyber Monday and Black Friday
Black Friday, occurring on the Friday after Thanksgiving, is a busy day for in-store shopping in the US. Retailers attract customers with big discounts, marking the start of the holiday shopping season. Cyber Monday, on the other hand, emerged as a special day for online sales. It started because online retailers, like Amazon, wanted to make the most of the Thanksgiving weekend.
So, while Black Friday is about in-store bargains, Cyber Monday takes the shopping spree online, making it a win-win for both traditional and online shopping fans.
Black Friday Sales
According to IANS, Black Friday broke records with $9.8 billion in online sales in the US, showing a 7.5 Per Cent increase from last year. Mobile shopping played a big part, contributing $5.3 billion to online sales. The most popular items on Black Friday were electronics like smartwatches and TVs, toys, and gaming, as per CNBC reports.
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