Cyber Monday is an online mega-shopping event that lasts for 24 hours. The day falls on the first Monday, immediately after the Thanksgiving feast. The idea behind Cyber Monday is to persuade buyers to make purchases online and, in return, get massive discounts, exceptional deals, and great promo codes.
Top 5 Fun Facts About Cyber Monday That Will Fascinate You – 2022 and 2023
Cyber Monday began because people were using their fast work connections to shop online, but by 2012, almost half of the customers used home connections. The event offers clients who avoid going to the stores due to endless queues an efficient alternative.
Let’s dig deep into the top 5 fun facts about Cyber Monday in this infographic.
1. Cyber Monday Was Invented in 2005
Cyber Monday never existed until 2005. By then, people had slow internet connections in their homes, which forced them to shop online from their office computers. However, by 2012, nearly half of shoppers used home connections. In 2014, almost half of traffic came from mobile phones or tablets.
After several pieces of research, the National Retail Federation discovered sales spiked the Monday after the Thanksgiving holiday.
Therefore, the term Cyber Monday was coined by Ellen Davis, an ecommerce expert, to reflect how Americans were shopping. The catchy word was used to encourage consumers to shop online and, in return, benefit from the crazy offers and discounts.
2. Electronics Are the Most Purchased Product on Cyber Monday
Cyber Monday is one of the long-awaited days for tech enthusiasts across the globe. Technology comes in handy on Cyber Monday, and it is no surprise that this holiday’s massive sale comes from electronics purchases.
To top it up, the trend makes sense as TVs, smart speakers, gaming consoles, tablets, and laptops are primarily the products with the highest promotions and discounts.
3. There Are Amazing Discounts on the Shipping Fee as Well
Consumers turn out for reduced or free shipping costs. During Cyber Monday, discounts are not limited to the product only, but customers also enjoy reduced shipping costs of the goods they purchase. Online retailers drastically slash or outright do away with the shipping fee.
The reduced shipping cost must be the second trigger after the crazy low price sale. This is very appealing, especially if you order gigantic goods like a television, desktop, or white goods. The massive cut on the shipping fee is a win-win as sellers get to compete against their competitors.
4. Revenue Generated by Cyber Monday Consistently Increases Over Years
The amount of revenue Cyber Monday generates grows bigger and bigger as years go by. Cyber Monday was launched in 2005 when the National Retail Federation formed a digital counterpart of Black Friday. During The Great Recession in 2007, Cyber Monday pulled $733 million in revenue, higher than Black Friday ($531 million) the same year.
The Cyber Monday event has been a massive hit since the beginning. In 2010, for the first time, the holiday surpassed $1 billion and became the biggest online shopping day at that time. Over the years, Cyber Monday sales have achieved enormous sizes, with the holiday ranking at a staggering $9.5 billion in 2019!
To put the above into more perspective, Cyber Monday sales figures only ever rise.
5. Cyber Monday Is Global
Cyber Monday was only celebrated in the United States for a couple of years after it was introduced in ecommerce. As online shopping started to pick up, the trend started to reach other countries. Online retailers across the world started to admire the coin-saving sales.
Currently, the United Kingdom comes second after the United States by total sales during Cyber Monday. Since the dizzying success of Cyber Monday has expanded, other countries have also embraced this event. These countries include Australia, Belgium, Romania, Sweden, Japan, Netherlands, Portugal, Chile, India, Argentina, France, Columbia, New Zealand, and Canada.
Just like in the United States, Cyber Monday has flourished to astounding heights in each country.
Cyber Monday has become a staple in the online shopping sector. Being one of the busiest online shopping days of the year, most online retailers offer unbelievable discounts on their products, with electronics topping the most purchased products.
Cyber Monday has bloomed into the biggest shopping day for ecommerce, even surpassing Black Friday in digital sales.