Cyber Monday is a marketing term for e-commerce transactions on the Monday after Thanksgiving in the United States.
It was created by retailers to encourage people to shop online.
The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman, and made its debut on November 28, 2005, in a Shop.org press release entitled “‘Cyber Monday’ Quickly Becoming One of the Biggest Online Shopping Days of the Year”.
Cyber Monday takes place the Monday after Thanksgiving; the date falls between November 26 and December 2, depending on the year.
Cyber Monday has become the online equivalent to Black Friday and offers a way for smaller retail websites to compete with larger chains.
Since its inception, it has become an international marketing term used by online retailers around the world.
According to the Shop.org/Bizrate Research 2005 eHoliday Mood Study, “77 percent of online retailers said that their sales increased substantially on the Monday after Thanksgiving, a trend that is driving serious online discounts and promotions on Cyber Monday this year (2005)”.
In 2017, Cyber Monday online sales grew to a record of $6.59 billion, compared with $2.98 billion in 2015, and $2.65 billion in 2014. However, the average order value was $128, down slightly from 2014’s $160.
The Cyber Monday on November 30, 2020 was the biggest online shopping day in U.S. history with a total of $10.7 billion in online spending.
