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Tuesday, November 30, 2010

Is Cyber Monday Really Worth All the Hype??

Now that Cyber Monday is over, here is a story that is sure to inform you of what Cyber Monday is really all about.  Is it a gimmick or true sales??  I'll tell you what the statistcs say, you tell me what your shopping said.

While traditional retailers will be monitoring store traffic and sales on Black Friday (the day after Thanksgiving), online retailers have set their sights on something different: Cyber Monday, the Monday after Thanksgiving, which is quickly becoming one of the biggest online shopping days of the year."

Ta-dah! The term "Cyber Monday" was born.

Ellen Davis, vice president of the National Retail Federation, which owns (and, said the "Cyber Monday" term originated organically as retailers noticed that consumers turned to the internet to shop on the Monday after Thanksgiving.

"The trend was actually developed by shoppers and started in '02, '03," she said, adding that the federation just put a name to the concept.

Cyber Monday is supposed to be the biggest online shopping day for two reasons.  The first because its after Black Friday and its supposed to allow you to get the deals you missed out on, while shopping straight from your computer and also because its supposed to have major deals.  The reality of it all is that it's all very close to a scam.  Only in 2009 was Cyber Monday the highest online retail sales day, and that is believed to be due to the recession.  The highest online retail is actually in December when people get those last minute gifts they were holding out on.  Many of the items found on Cyber Monday are products that didn't sell on Black Friday.  To quote Andrew Lipsman, director of industry analysis "Perhaps the most interesting thing to be learned from Cyber Monday is that Mondays -- after Thanksgiving or not -- are usually big days for e-commerce.  That's because people like to shop at work"

I've told you what the statistics say, now you tell me if you found big deals and you believe Cyber Monday to be the best online shopping day of the year.

Sources: CNN, comScore

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