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Real-time Cyber Monday Updates
When is Cyber Monday?
This year’s Cyber Monday falls on the 26th November, with the Black Friday weekend beginning on the 23rd. Black Friday started as a traditional saving holiday that followed Thanksgiving in America, before spreading all over the world – but when retailers realised that shoppers were continuing their hunt for deals when they got back to their desks on Monday, retailers had a brainwave. Cyber Monday was created shortly after in 2005 to try and get shoppers to save online, as well as in the stores, across the busiest shopping weekend of the year.
The History of Cyber Monday
In fact, the term ‘Cyber Monday’ was coined by a member of the National Retail Federation in the US, when Ellen Davis shared a press release proclaiming that ‘Cyber Monday (is) Quickly Becoming One of the Biggest online Shopping Days of the Year”. In fact, even then, the research showed that 77% of online retailers noticed a ‘substantial’ increase in sales the Monday after thanksgiving (and following Black Friday).
With reams of internet-savvy shoppers since making the most of this opportunity to save, the day has only grown in recent years to make the whole of the Black Friday weekend a massive savings event. What was initially a day owned by the smaller retailers online only or smaller stores that couldn’t compete with the huge deals the major players were putting out over Black Friday – has now become a key savings day in the calendar and in the build-up to Christmas.
Cyber Monday in the UK
The UK Cyber Monday spend in 2015 hit £968m, showing a 34% sales increase year-on-year. That’s a mighty impressive total, given that reams of online deals are now making their way to the digital shelves on Black Friday, too!
Cyber Monday has its specialities, however. With Black Friday being most famous for its incredible deals on technology and entertainment, Cyber Monday has shown off its ability to offer exclusive fashion deals, making the most of consumers’ hunger for quick, easy and (often free) delivery and the ability to shop from home, rather than on the High Street.
Cyber Monday Trends
There are other quirks about Cyber Monday that most British shoppers to know in order to make the best savings – in particular, the fact that Cyber Monday deals work more like Black Friday, in the sense that there will be many one-day-only deals that you can either grab now - or miss entirely!
For example, brands like GAME in recent years have made a name for themselves by offering fantastic digital deals, making the most of shoppers who tend to shop online for video games, rather than in-store. This means that if there’s a recent game you’ve had your eye on it’s worth holding out until Cyber Monday to see if you can catch an extra special price.
Similarly, department stores and ‘premium’ brands like House of Fraser and John Lewis tend to show off their fashion and beauty products in earnest with some extra special deals online. Even the likes of the supermarkets – Asda and Tesco among them – will represent with some deals online to try and draw shoppers away from the online-only stores, so keep an eye out for some deals on products that you might not have expected.
Cyber Monday Stats - 2015
Cyber Monday is on the rise, and as expected the figures are there to back it up. With retailers continuing to warm to the full weekend of discount-code-delight, and shoppers looking for more and more deals, it’s safe to say that digital sales are increasing.
- Shoppers spent £968m across the UK in 2015, and £720m in 2014.
- £3.3 billion was spent across the full Black Friday weekend and £1.1 billion of that spend was on Black Friday – this means that Cyber Monday saw just 12% less spend than Black Friday, and was 29% of the total figure for the weekend.
- 19% of online sales were driven by mobile devices on Cyber Monday.
- In the US, the Cyber Monday spend alone topped $3.1 billion, compared to $2.6 billion the year before.
- Even last year, industry analysts underestimated Cyber Monday spends, predicting a £943m UK-wide figure (£25m below the actual figure).
- Mobile sales also ballooned – rising from $548m to $838m, an increase of 53%.
- Checkout abandonment sat at 80% - which is 5% lower than the average across the rest of 2015, showing shoppers stick around for good deals.