Black Friday and Cyber Monday are the two biggest shopping day. Smaller retailers that cannot compete with the big retailers are the major participant of the shopping event. Black Friday generally offers better deals on technology, with nearly 85% more data storage deals than Cyber Monday. Cyber Monday offer larger sales for fashion retail than Black Friday. Although is not an official holiday, It has been an international marketing term used by online retailers all over world.
Features of Cyber Monday
- Gian Fulgoni of comScore state that “data have shown that Cyber Monday online sales have always been driven by considerable buying activity from work locations. That pattern hasn’t changed. After returning from Thanksgiving weekend with a lot of holiday shopping still ahead of them, many consumers tend to continue their holiday shopping from work”.
- According to press, the event was officially celebrated for the first in Argentina on November 11, 2014. It marked a tenfold growth in users taking advantage of online sales over the previous year.
- The first Cyber Monday in Colombia took place on 26 November 2012. It was organized by the Colombian Chamber of Electronic Commerce and sponsored by the Ministry of IT and Telecommunications.
- India’s version is known as great online shopping festival. It took place for the first time on 12 December 2012. This happened when Google India partnered with many e-commerce companies which includes Flipkart, Snapdeal, HomeShop18, Indiatimes shopping, and MakeMyTrip. This was the first time such initiative was undertaken by Google although it was done only once.
- Amazon Japan announced it registered as Cyber Monday with Japan Anniversary Association in 2012. They ran the Cyber Monday Seven Day Sale from Dec 10 through Dec 16, 2012.
- Amazon Dutch announced that they will bring the event to Germany in 2010. As of 2014, they continue to advertise Cyber Monday. They even extended it to an 8 day period branding it “Cyber Monday week”, beginning on the Monday before Thanksgiving.
Statistical Analysis about Cyber Monday
- In 2006, comScore of United States reported that online spending on the shopping day jumped 25% to $608 million, 21% to $733 million in 2007, and 15% to $846 million in 2008.
- In 2010, comScore reported the first ever $1 billion online shopping day ($1028M), an increase of 16 percent over 2009
- 46 percent of the people expect to pay with credit cards and 43 percent expect to pay with debit cards. Sales are up 8.1% as of 6 p.m.
- As of November 2011, 22% of employers in United States had fired an employee for using the Internet for non-work related activity. 7% of human resource managers surveyed had fired an employee for holiday shopping. 54% of employers were blocking employees from accessing certain websites.
- More than 80% of Canadians participate in Black Friday and Cyber Monday sales.
- By 2011, around 80% of online retailers in Canada were participating in the event
- Chile’s first Cyber Monday took place on 28 November 2011. The companies participating in the event are participants in the Santiago Chamber of Commerce’s Electronic Commerce Committee. In 2015 the Chilean had 85 stores participating, 390.000 transactions and US$83 million in sales. 36% of that was mobile. 7,140 companies registered for the program in 2016.