Cyber Monday is set to be the largest online shopping day that the U.S. has ever seen. Americans are expected to spend $6.6 billion online according to Adobe Analytics and reported by USA Today. In contrast, Americans spent $5 billion online on Black Friday.
Cyber Monday started back in 2005, when Ellen Davis of the National Retail Federation came up with the term. Since then, consumers have learned to expect cyber sales when they get back to work on Monday after the Thanksgiving holiday and companies, like Amazon, Walmart, Best Buy, Macy’s, Nordstorm, and Target are all happy to oblige.
“People love sales and can’t get enough of them,” said Sucharita Mulpuru, a senior retail analyst with Forrester Research, according to USA Today. “Very few people are tired of sales.”
When Cyber Monday started, online sales were still new, and only 30 percent of Americans did any holiday shopping online at all. Though many people participated in Black Friday shopping, they waited until they were back at work on Monday because their work usually had a faster Internet connection than they had at home, reports USA Today.
USA Today writes that a lot of people have probably been shopping all weekend, but wait until Monday to hit the “buy” button so they are sure they are getting the absolute best deal. According to TrendSource data, seven percent of people plan to do the majority of their holiday shopping on Cyber Monday, compared with 10 percent of Black Friday and 40 percent after Cyber Monday, reports USA Today.
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