Black Friday and Cyber Monday are very important dates for the eCommerce space in the United States. However, sales across eCommerce sites as well as brick and mortar stores has now become global. In this article we will discuss all about Cyber Monday and some interesting facts you did not know about the day-
Cyber Monday originated in the year 2005 to encourage buyers across the world to shop online. It is observed the Monday following Thanksgiving and Black Friday. This tradition emerged when retailers saw a rise in online shopping every Monday following Thanksgiving. It has become insanely famous among shoppers across the world because online store owners started hosting huge sale on several categories. When COVID-19 hit the world in the year 2020, Cyber Monday sales hit an all-time high of $10.8 billion last year because eCommerce shopping had increased.
- The name ‘Cyber Monday’ was coined by ‘Ellen Davis’. You might still remember that back in the days, we would refer to the internet as ‘Cyberspace’. And, the term was inspired by that, as the day revolves around online/internet shopping.
- During The Great Recession in 2007, Cyber Monday still managed to pull $733 million in revenue, higher than that of Black Friday ($531 million) that year.
- 28 countries celebrate Cyber Monday
- 37% of digital sales on Cyber Monday were made on mobile devices in 2020.
- Shoppers bought popular items like Hot Wheels, Lego sets and Air Pods during the Cyber Monday sales last year.
- Did you know it’s mostly men who spend online on Cyber Monday? Men account for 56% of Cyber Monday shoppers.
- Cyber Monday is the highest online spending day. 90% of online shoppers surveyed say low prices are most important to them, 86% say free shipping is next.
- During the peak hour of Cyber Monday 2020, 8:00 PM – 9:00 PM, the buying rate reached $12 million per minute (Statista, 2020)
- An estimated 186 million shoppers purchased goods during Cyber Week 2020, 190 million fewer than that of Cyber Week 2019.
- Amazon holds the largest market share among Cyber Monday online sellers at 56%, followed by Best Buy (11%), Walmart (9%), Macy’s (6%), and eBay (5%).