Smaller retail websites have an opportunity to compete with larger businesses on Cyber Monday, which has developed into the online equivalent of Black Friday. Since its inception, it has evolved into a marketing term used by internet stores all over the world.
Cyber Monday internet sales increased to a record $6.59 billion in 2017, up from $2.98 billion in 2015 and $2.65 billion in 2014.
The typical order amount, though, dropped from $160 in 2014 to $128 in 2015. The biggest single day in American history for online shopping was November 30, 2020, when $10.7 billion was spent there.
According to Scott Silverman, the executive director of Shop.org, the term “Cyber Monday” was created by Ellen Davis and first used by the e-commerce community during the 2005 holiday season.
The research from 2004 indicated that “one of the biggest online shopping days of the year” was the Monday following Thanksgiving (the 12th-biggest day historically).
Retailers also indicated that December 5 through December 15 of the prior year was the busiest shopping week.
Why is it called Cyber Monday?
The Monday after Thanksgiving is referred to as “Cyber Monday” in the e-commerce world. It is both the biggest day for online sales and the second-biggest shopping day.
The National Retail Federation’s internet store, Shop.org, invented the phrase “Cyber Monday” in 2005.