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Cyber Monday is a marketing term for e-commerce transactions on the Monday after Thanksgiving in the United States. It was created by retailers to encourage people to shop online. The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman and made its debut on November 28, 2005, in a Shop.org press release entitled “Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year.” Cyber Monday takes place the Monday after Thanksgiving; the date falls between November 26 and December 2, depending on the year.
Cyber Monday has become the online equivalent to Black Friday and offers a way for smaller retail websites to compete with larger chains. [2]Since its inception, it has become an international marketing term used by online retailers around the world.
The shopping event, which originated in 1950 with retail stores lowering prices and extending hours, evolved into a global online phenomenon in 2000, boasting one of the highest worldwide sales, and subsequently inspired the creation of Cyber Monday in 2005. According to the Shop.org/Bizrate Research 2005 eHoliday Mood Study, “77 percent of online retailers said that their sales increased substantially on the Monday after Thanksgiving, a trend that is driving serious online discounts and promotions on Cyber Monday this year (2005).”.
In 2017, Cyber Monday online sales grew to a record of $6.59 billion, compared with $2.98 billion in 2015 and $2.65 billion in 2014. However, the average order value was $128, down slightly from 2014’s $160. Cyber Monday on November 30, 2020 (the first during the COVID-19 pandemic) was the biggest online shopping day in U.S. history, with a total of $10.7 billion in online spending.
India got its own version of Cyber Monday (Great Online Shopping Festival) on December 12, 2012, when Google India partnered with many e-commerce companies, including Flipkart, Snapdeal, HomeShop18, Indian Times shopping, and MakeMyTrip. Google said that this was the first time an industry-wide initiative of this scale was undertaken. In November 2015, Google announced that the event would not be repeated.
