A record-breaking Black Friday is in the books and Small Business Saturday is in the rearview mirror. It’s now on to Cyber Monday, with major retailers rolling out deep discounts.
Analysts are expecting Cyber Monday to be the biggest online shopping day of the year with over eleven billion dollars in sales.
Holiday shopping goes digital with Cyber Monday. The shopping holiday is celebrated the Monday after Thanksgiving every year.
According to bankrate.com, Cyber Monday is a 2005 invention of the National Retail Federation. The NRF noticed that online sales on the Monday after Thanksgiving tend to be higher, likely because people were browsing at work while away from pesky kids and slower home internet connections. In 2021, the NRF found that about 20 percent of all Thanksgiving weekend shopping (which Cyber Monday is now rolled into) was done on Cyber Monday itself, and a full 79 percent of those purchases were indeed made online.
Online retailers are offering deals on any number of items, from TVs to kitchen cookware.
Adobe Analytics says a record $9.1 billion dollars was spent online for Black Friday alone. Adobe adds Cyber Monday is projected to grow more than five-percent over last year, with over $11 billion dollars in sales.
Cyber Monday is followed by what’s known as Giving Tuesday, a day that encourages folks to give back in ways both big and little in an effort to transform their communities and the world for the better.