Are You Ready for Cyber Monday?

‘Cyber Monday’ is a term that’s slowly been edging its way into our vocabulary, and today it’s known for being one of the biggest shopping days not only in the UK, but across the world. Cyber Monday has been around in the UK since about 2008, but it’s a trend that started a few years earlier in the United States.

The first official ‘Cyber Monday’ in the USA was held in 2005. The term was introduced following retailer feedback that sales were peaking on the Monday following Thanksgiving. It was thought that, after a long holiday weekend, employees were back in the office on Monday morning - where they had access to reliable, high speed internet connections - and started doing their Christmas shopping online.

Overtaking Black Friday

Last year, £720 million was spent in the UK on Cyber Monday, but this wasn’t enough to beat the £810 million that was spent on Black Friday. However, Cyber Monday sales are expected to grow by up to 90 percent this year, and it’s anticipated that it will beat Black Friday as the biggest pre-Christmas shopping day. Why? Because this year, Cyber Monday also happens to fall on the last day of the month - payday!

Last year, Amazon and eBay were two online-based businesses that saw almost unprecedented successes on Cyber Monday. The 2014 Cyber Monday deals saw sales up by 9.82 percent at eBay, compared to figures for Cyber Monday 2013, and up by 30.76 percent at Amazon. This year, stores including Argos, Tesco, the Disney Store, John Lewis, Toys R Us, and Debenhams are all participating.

Like Black Friday, Cyber Monday is no longer ‘just’ an opportunity to grab a great deal. It’s no longer a craze, or even a tradition. It’s almost an institution in its own right that we all feel we need to participate in. It’s great for UK businesses, and it’s great for shoppers looking to be more cost savvy this season.