Cyber Monday was created by shop.org 2005 as the day ecommerce stores offered online only discounts on the Monday after Thanksgiving. It has been embraced worldwide, and it has now become the single biggest shopping day in online retail. The following will address how it has become a prevailing milestone in the world of ecommerce and how online marketers can take advantage
Before Cyber Monday, the Monday after Thanksgiving was traditionally one of the biggest online spending days. Having a day of sales prevalent across online stores further incentivized customers. Merchants have revealed that one of reasons they offered discounts on this particular day, is to lessen the heavy crowds and masses that descend upon their physical retail stores. It is also the case that it enables them to create demand for their products much earlier.
Cyber Monday has opened up a massive marketing opportunity. Online stores internationally are starting to jump on board and offer discounts on this day. It provides a great opportunity to create email marketing campaigns in the lead up to the day. It also helps businesses in event branding, in which businesses can use the “Cyber Monday” brand to promote their special deals.
There many who have argued that social media has fueled the success of Cyber Monday. 2005 was the year that Facebook was just starting to see success. Since then, the trends of Facebook and Twitter have been well correlated with the success of Cyber Monday (with the exception of the 2008 global financial crisis). This means that using social media to promote special deals offered on this day is the best way to spread the word.
What is the extent of this ecommerce trend? To analyze this, consider some statistics. There are now 8 out of 10 online retailers offering sales on this day. The most recent Cyber Monday reported the biggest online shopping day ever, with over $1 billion worth of online sales across the US. These statistics show that Black Friday has become a fixture in the ecommerce landscape. It demonstrates some important trends in online marketing and social media marketing. It also shows that ecommerce stores should take advantage of this major event to stay at a competitive advantage.