Cyber Monday is a big shopping event that occurs on the Monday following Thanksgiving, as well as its complementary sales day, Black Friday.
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- What is Cyber Monday?
- Where does Cyber Monday come from?
- How does it affect customers?
What is Cyber Monday?
Cyber Monday, which falls on November 27 this year, has gained popularity as a profitable day for retail sales in the United States, with online businesses known for offering deals, discounts, and special promotions on the day.
However, many companies, including Amazon, have stated that Cyber Monday sales will begin on Saturday, November 25 this year. “Customers can expect deep reductions across all categories, including electronics, toys, home, fashion, beauty and devices from Amazon,” according to a company news release.
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These types of promotions have started to gain traction in India, with companies like Amazon, Croma, Tata Cliq and Vijay Sales now offering discounts on a variety of products.
Where does Cyber Monday come from?
The National Retail Federation developed the name “Cyber Monday” in 2005 after observing that people continued their holiday shopping online while at work on the Monday after Thanksgiving.
Black Friday, like Cyber Monday, was established by businesses as a method of promoting sales during the holiday season between November and December, in the run-up to Christmas. Online companies have offered significant discounts to customers since their inception.
How does it affect customers?
Experts believe that an increase in web traffic may be due to customers having faster and more secure Internet connections at work. Many others also chose to shop on Monday because they were not able to complete all their shopping over the Thanksgiving holiday.
”With the rise of online shopping, online-only companies like Amazon sought a method to capitalize on Thanksgiving holiday sales. “The Monday after Thanksgiving was all about online sales, making it different from Black Friday,” said Katherine Cullen, NRF vice president of industry and consumer research.
Sales increased from $484 million in 2005 to more than $11 million in 2022.
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Source: vtt.edu.vn