Tuesday, December 1, 2009
Post by David Held
It’s the holiday season and of course everyone is spending. Everyone has heard of Black Friday, but as technology advances much of the buying has been moved to the internet. Yes, people still go to their favorite stores on black Friday, but year after year the spending seems to have been decreasing on this date; this is because of Cyber Monday. Cyber Monday is the Monday after Thanksgiving Weekend, a day where many consumers go back to work after a well deserved long week. Studies have shown that on this day Internet sales have skyrocketed. As a result of this many stores that have a big online presence have been offering more discounts and bargains on Cyber Monday. Online stores such as Overstock.com, Amazon.com, and many others have created coupons for Cyber Monday only.
One of the reasons why consumers have began shopping on Monday instead of Friday is because now they do not have to wait in the cold at 4am in front of their store of choice to get a bargain. Also, during the Wednesday, Thursday, Friday, and Saturday of Thanksgiving weekend people tend to spend a lot on food, travel expenses, and other expenses, so the consumer feels like he/she needs to go back to work to make some more money before spending on gifts.
As time goes by I can definitely see Cyber Monday becoming a more popular than Black Friday solely because of its convenience.
Sources #1, #2, #3