This upcoming Monday on November 30, 2020 it is Cyber Monday! If you are unfamiliar with the all day event, it is the internet’s version of Black Friday. The day after Thanksgiving in the United States is called Black Friday and many retailers and companies offer significant discounts to drive sales. Customers flock to stores of all types to get the best deals and stock up on anything they personally need, gifts for the holidays or upcoming events, and more. On Cyber Monday many online stores offer crazy discounts on popular products to drive e-commerce sales higher. You can get a lot of deals in 3 days from now!
Cyber Monday also known as Blue Monday is a marketing term for the Monday after the Thanksgiving holiday in the United States. It was created by retailers to encourage people to shop online.
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– Wikipedia
As you can see, the profits that are made by the biggest online retailers are quite impressive. However, the customers are also saving money too! One thing that is interesting is that although the profit margins are slim or non-existent for certain products on Black Friday or Cyber Monday, the amount of products sold still makes the whole endeavor worthwhile. So it’s practically a win-win situation for both customers and companies in e-commerce.
Will you be participating in Cyber Monday 2020 this year on November 30? Let us know in the comments / attached forum thread what you plan on buying or selling this year!