Introduction – Understanding Cyber Monday
For years on, this shopping event has seen thousands of shoppers camping out to acquire the deals before supplies run out, and although Covid-19 changed that in 2020, the thrill of this event continues to have shoppers excited to score deals for their Christmas gift lists.
Cyber Monday now joins Black Friday to form a weekend full of shopping deals. While most brands use this event as an extra day to sell commodities that didn’t make it off the shelves on Black Friday, many treat the two events as prongs in a single marketing strategy.
By focusing on an in-person retail experience on Friday then pushing for online purchases on Monday, these retailers and brands encourage purchases and target two audiences on the same weekend.
Specifically, technology products like laptops, gaming systems, and phones have their best deals on Cyber Monday. Cyber Monday 2022 will fall on 28th November, after Black Friday, 25th November.
How Crazy Is Cyber Monday?
Cyber Monday is a shopping event equivalent to Black Friday and is held the Monday following the US Thanksgiving holiday in November.
It might not be as crazy as Black Friday, but this shopping event draws in millions of people looking to score some incredible technology sales.
In 2018, the global shopping event generated a record of about $7 billion in sales in the US alone – a figure that increases every year. Growth has been exponential with sales tripping from 2016 to 2017, and with the average spending wavering around $400 per individual.
The consumer spending is attributed to online retailers’ marketing campaigns that promote discounts of over 50% and generate anticipation in the weeks leading to Cyber Monday.
On a basic level, the shopping event’s appeal comes from the convenience of online shopping compared to the crazy Black Friday crowds. The online shopping craze also helps with convenience, and some brands even form day-long shopping windows to keep sales up.
Origins Of Cyber Monday
The term ‘Cyber Monday’ was coined by Ellen Davis, a former Senior Vice-President of the National Retail Federation, in a press release in November 2005.
The choice to make Cyber Monday an official online shopping event came due to an announcement made by Scott Silverman, the head of Shop.org at the time.
This announcement was based on several studies that revealed the day after Thanksgiving was one of the most critical shopping days on the calendar.
This term came from the research that showed millions of working-class Americans, fresh off Thanksgiving, returned to their phones and computers on Monday and purchased what they liked.
Today, Cyber Monday is observed by several countries worldwide, including Columbia, Canada, Peru, and the United States.
Why Is Online Shopping Better Than In-Store During This Covid Risk?
Before Covid-19 hit, shopping habits were changing, but slowly. Online’s share of the total apparel retail sales continuously increased by 1% each year, with analysts estimating about 75% of dollars remaining in local stores. Online retailers fought to mirror the experience of in-person shopping, but the sales were slow.
However, when the coronavirus hit, millions of shoppers shifted to online shopping, which only saw five years of adoption in one year. The online revenue growth rose to 44% in the first quarter and is projected to 60% in 2022.
The rapid production of mobile devices is making it easier than ever to browse and purchase products. And shopping events like Cyber Monday, which offer consumers the best Cyber Monday Deals, makes it even more appealing to place orders at the comfort of their couch.
How To Prep For Cyber Monday
You can start preparing for Cyber Monday 2022 weeks or months before the dee-day – the earlier, the better. To do this, be sure to consider the following points:
Before You Start Shopping
Check Out Past Years’ Sales – Most retailers don’t recycle Cyber Monday Deals year to year, mostly because consumers are so fickle and merchandise life cycles are too short. However, you can check past years’ sales to predict the type of commodities on which you can find the best Cyber Monday deals.
In particular, check out prior-year Cyber Monday flyers. With access to these, you can start compiling tentative Cyber Monday online shopping lists.
- Bookmark Retailers’ Websites – If you’re shopping for several people, you might accumulate a long list of options, so be sure to bookmark every helpful retail website as you go. You can even create separate Cyber Monday or online shopping folders to sequester your retailer bookmarks.
- Create A Holiday Gift List as Early as Possible – Before rushing to online stores to purchase products, be sure to create a list that can help you have an easier time shopping for your friends and family. You might also want to make an alternative list if the item you’re looking for isn’t available or goes out of stock. This will help make Cyber Monday 2022 shopping seamless.
- Research Shipping Policies and Fees – Most retailers provide free shipping on Cyber Monday, even if they don’t at other times of the year. So, unless you’re looking for products that aren’t available on free shipping sites, be sure to check if your preferred retailer will offer free shipping. That way, you won’t have to spend so much money.
Once retailers announce the best Cyber Monday Deals, be sure to set these strategies in motion:
- Set A Solid Budget – The most important rule of online shopping – stick to your budget. No matter what you decide to spend your cash on, keeping a holiday shopping budget will regulate your spending and help you save up some money for the following year.
- Monitor Your Bank Account and Credit Cards for Suspicious Activity – Holiday shopping seasons are the busiest for credit card fraudsters and thieves. Therefore, be sure to keep your eyes peeled for potential scammers and reduce your likelihood of falling into their traps.
- Avoid Upsells and Add-Ons – Successful Cyber Monday shopping needs discipline in spades. It doesn’t matter where you shop; you’ll inevitably be loaded with offers to add complementary commodities to your order or upsold to premium versions – for a great price.
- So, unless you’re planning to buy add-ons, ensure that you ignore these treats as tempting as they might seem. This is the best way to ensure you stick to your budget.
- Use A Price Comparison Tool – Please don’t rush to purchase until you’re sure it’s your best deal. This is where a price comparison app comes in handy since it’ll help you see which retailers are providing the lowest prices during this shopping event. Some of the best price comparison tools include PriceGrabber, Google Shopping, and Shopzilla, among others.
Safe At Home Cyber Week Pro Tips
If you’re done with in-person shopping and want to check your holiday to-do list this year, be sure to set an early alarm, prepare a large hot cup of coffee, go shopping with your friends or family on Zoom, and use Google Shopping to find the best deals.
The Bottom Line
As mentioned, the lines between Black Friday and Cyber Monday blur a little more every year, but if you’re looking to score some top-notch technology deals, Cyber Monday is the era for you.