What’s the Hype about Cyber Monday?

Article written by: Angela L. Serrette
Posted on: December 7, 2009

Did you take a pass on Black Friday (November 27) and Cyber Monday (November 30), the allegedly biggest shopping days of the year? Then maybe you’re smarter than the average shopper. These days are only the kickoff of the holiday shopping season, during which retailers must continue with cutthroat discounts in order to stay competitive.

In November of 2005 the New York Times reported the name Cyber Monday grew due to the millions of American workers who returned to work after the Thanksgiving Day holiday and proceeded to flood the internet  and began shopping online while at the office or when they got home.

ComScore Networks reported that in November 2005 online spending on Cyber Monday was $486 million, a 26% increase from the previous year, excluding travel purchases.  It was also reported that visits to shopping sites increased 35% compared to the prior year as per Akamai Technologies.

But Mastercard reported that December 5, 2005 was the busiest web shopping day and surveyed consumers and found only 10% said they actually shop on Cyber Monday.

However, other studies have shown that sales spike every Monday after Thanksgiving.  Go figure.

More holiday shopping factoids:

Silver Surfers (65 yrs old and older) spend 1 hour a day online-focusing on price comparisons

African Americans make up 89% of online shoppers spending 1 hour on the internet shopping for automobiles and electronics.

Baby Boomers search more than 75% of the time for automobiles, appliances and electronics.

Regardless, saving money during the holidays is essential to all of us and with the economic conditions being what they are, both Black Friday and Cyber Monday present opportunities to purchase wisely.

But for those of us who are savvy shoppers….we look for the best sales every day. For discount codes see our shopping pages here.