Who doesn’t appreciate a good deal? Whether you’re looking for a new pair of shoes or a new phone, there’s money to be saved if you buy it on the right day. Cyber Monday is one of those days.
You may have heard the term before, but what exactly is Cyber Monday?
Cyber Monday is a 24-hour online shopping event that promotes online shopping. Sale days are essential for any offer hunter or webshop, as more and more webshops join the bandwagon every year. In the United States, the actual shopping day is the first Monday after Thanksgiving and is an extension of Black Friday.
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Cyber Monday Is The Internet’s Black Friday
Cyber Monday is much younger than Black Friday, having emerged as a result of the Internet and e-commerce growth in the 1990s. Companies like eBay and Amazon began to enter the market at this point, and these companies needed to get their Christmas sales in early. On Black Friday, which was primarily and originally intended for physical stores, e-commerce retailers felt overlooked.
The first Cyber Monday was held in 2005 with the goal of promoting online commerce, which was not yet the massive market that it is today. Since then, online commerce has expanded rapidly, and the online shopping day has expanded in tandem.
How To Use Cyber Monday For Your BusinessCyber Monday has become an important date in the Christmas shopping calendar, and as such, the day presents an excellent sales opportunity for e-commerce retailers. For retailers, the online shopping day is an obvious opportunity to sell out of their warehouse and collect useful data in preparation for the Christmas sale. At the same time, the campaign can assist them in meeting their sales targets by the end of the year.
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Increase Revenue With Cyber MondaySeveral retailers are using Black Friday to get ideas and learn which deals and promotions work. They can optimise sales on Cyber Monday with this knowledge. This can be accomplished by substituting popular Black Friday discounts for ineffective ones.
If the company can do this well, they will be able to maximise profits while also keeping their customers satisfied.
You can always think about it and see what other companies are doing. So look around you and see what some of the world’s largest corporations are doing well and poorly.
Cyber Monday is one of the most important shopping days of the year for both online retailers and consumers. If retailers are to fully capitalise on the event, they must be adequately prepared for the sharp increase in demand.