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Cyber Monday

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Cyber Monday is a marketing term for the Monday immediately following Black Friday, the Friday following Thanksgiving Day in the United Sates. The term made its debut in 2005 in a Shop.org press release entitled "'Cyber Monday' Quickly Becoming One of the Biggest Online Shopping Days of the Year".[1] According to the Shop.org/BizRate Research 2005 eHoliday Mood Study, "77 percent of online retailers said that their sales increased substantially last year on the Monday after Thanksgiving, a trend that is driving serious online discounts and promotions on Cyber Monday this year (2005)". In 2006, Shop.org announced[2] that it launched the CyberMonday.com portal, a one-stop shop for Cyber Monday deals. In 2009, comScore[3] reported that consumers spent $887M online on Cyber Monday (excluding travel), the second highest spending day of 2009.

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[edit] Origin of term

The term "Cyber Monday" was created by Shop.org, part of the U.S. trade association National Retail Federation.[4] It was first used within the ecommerce community during the 2005 holiday season. According to Scott Silverman, the head of Shop.org, the term was coined based on research showing that 77% of online retailers reported a significant increase in sales on the Monday after Thanksgiving in 2004.[5] In late November 2005, the New York Times reported that "The name Cyber Monday grew out of the observation that millions of otherwise productive working Americans, fresh off a Thanksgiving weekend of window shopping, were returning to high-speed Internet connections at work Monday and buying what they liked."[6]

[edit] United States

In 2006, comScore reported that online spending jumped 25 percent on Cyber Monday to $608 Million.[7]

In 2007, comScore reported that online spending climbed 21 percent on Cyber Monday to $733 Million.[8]

In 2008, comScore reported that online spending increased 15 percent on Cyber Monday to $846 Million.[9]

In 2009, comScore reported that online spending increased 5 percent on Cyber Monday to $887 Million and that more than half of dollars spent online at U.S. Web sites originated from work computers (52.7 percent), representing a gain of 2.3 percentage points from last year.[10] Buying from home comprised the majority of the remaining share (41.6 percent) while buying from international locations accounted for 5.8 percent. According to comScore chairman Gian Fulgoni, “comScore data have shown that Cyber Monday online sales have always been driven by considerable buying activity from work locations. That pattern hasn’t changed. After returning from the long Thanksgiving weekend with a lot of holiday shopping still ahead of them, many consumers tend to continue their holiday shopping from work. Whether to take advantage of the extensive Cyber Monday deals offered by retailers or to buy gifts away from the prying eyes of family members, this day has become an annual ritual for America’s online holiday shoppers.”

[edit] Website

At the official Cyber Monday site run by Shop.org, more than 600 retailers offer discounts as of 2009. A percentage of the proceeds of the site benefits the Ray M. Greenly Scholarship Fund, which gives scholarships to students wanting to better their education in e-commerce.

[edit] References

  1. "'Cyber Monday' Quickly Becoming One of the Biggest Online Shopping Days of the Year". Shop.org. http://www.shop.org/c/journal_articles/view_article_content?groupId=1&articleId=623&version=1.0. 
  2. "As More Consumers Shop from Work, Retailers Gear Up for Cyber Monday -- CyberMonday.com Debuts for Shoppers Seeking Online Deals". Shop.org. http://www.shop.org/c/journal_articles/view_article_content?groupId=1&articleId=605&version=1.0. 
  3. "E-Commerce Sales Rise by 5 Percent to Reach $27 Billion for the 2009 Holiday Shopping Season through Christmas Eve". comScore. http://www.comscore.com/Press_Events/Press_Releases/2009/12/E-Commerce_Sales_Rise_by_5_Percent_to_Reach_27_Billion_for_the_2009_Holiday_Shopping_Season_through_Christmas_Eve. 
  4. Hof, Robert D. (November 29, 2005). "Cyber Monday, Marketing Myth". Business Week. http://www.businessweek.com/bwdaily/dnflash/nov2005/nf20051129_9946_db016.htm. Retrieved 2007-11-16. 
  5. "Shop 'til your mouse breaks: Etailers await "Cyber" Monday". CNN.com. November 28, 2005. http://money.cnn.com/2005/11/21/news/economy/cyber_monday/index.htm. Retrieved 2007-11-26. 
  6. Michael Barbaro (November 11, 2005). "Online sales take off on 'Cyber Monday'". New York Times. http://www.nytimes.com/2005/11/30/technology/30iht-cyber.html?scp=12&sq=cyber%20monday&st=cse. 
  7. "Cyber Monday E-Commerce Spending Beats Forecast; Climbs 25 Percent Versus Last Year to $608 Million". comScore. http://www.comscore.com/Press_Events/Press_Releases/2006/11/Cyber_Monday_E-Commerce_Beats_Forecast. 
  8. "Cyber Monday Spending Propels Holiday E-Commerce to Strong Week of More than $4 Billion in Sales". comScore. http://www.comscore.com/Press_Events/Press_Releases/2007/12/Cyber_Monday_Holiday_E-Commerce. 
  9. "E-Commerce Spending Jumps 15 Percent on Cyber Monday to $846 Million, the Second Heaviest Online Spending Day on Record". comScore. http://www.comscore.com/Press_Events/Press_Releases/2008/12/Cyber_Monday_Sales_Reach_846_Million. 
  10. "Cyber Monday Online Sales Up 5 Percent vs. Year Ago to $887 Million to Match Heaviest Online Spending Day in History". comScore. http://www.comscore.com/Press_Events/Press_Releases/2009/12/Cyber_Monday_Online_Sales_Up_5_Percent_vs._Year_Ago_to_887_Million_to_Match_Heaviest_Online_Spending_Day_in_History. 

[edit] External links

[edit] Source

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This entry includes content from the following Wikipedia article: Cyber Monday