Cyber Monday….a new lingo for E commerce
Cyber Monday, the term was coined in 2005 in U.S during the holiday season. Cyber Monday is a marketing term for the Monday after Thanksgiving. The term “Cyber Monday” was created by marketing companies to persuade people to shop online. It may fall in various days after thanksgiving.
In precise term to boost holiday shopping before Christmas, online retailers provide huge discount, freebies and gift voucher to online shoppers. It is termed as “one of the biggest online shopping days of the year”. For brick & mortal store (physical store) the term used is “black Friday”, when the shopping deal, offers, discount touch the highest, in the same way “Cyber Monday”, work for online stores. Online sales have risen by double-digit percentages every holiday season. In 2010, US consumers spent just over $1 billion on Cyber Monday, up from $887 million the year before. The $2 billion mark was hit in 2012.
Why Cyber Monday the beginning:
- “Cyber Monday” began when consumers only had access to high speed Internet at work, so they waited until Monday to shop online at the office rather than stuck to low medium speed of internet browser at home.
- To surprise their loved one, shopping online on Monday is a good option.
- Many customer visited physical store on “Black Friday”, to shop but due to traffic woo, cold, or inconvenience of moving one store to another led them to shop online on “cyber Monday”, to get the best deal possible.
- Online shoppers do not have to battle each other for the rare empty space in the mall parking lot.
- Facility to browse multiple online stores at fingertip to get the best deal.
Cyber Monday in India
Till 2011, the “Cyber Monday”, had spread their wings in countries, e.g. US, U.K, Germany, Italy etc. The term has been brought in India by Google in 2012, in collaboration with 50 ecommerce sites across the genre that includes deal sites, online travel sites and BFSI industry. Google tried to replicate the concept of ‘Cyber Monday’ and is celebrating ‘Great Online Shopping Festival‘ on December 12, 2012. Citibank has also organized ‘OMG! Sale’ on December 5, 2012 in line with cyber Monday. The initiative is aimed at encouraging shoppers to adopt online shopping with a focus to reach out to first time online buyers.
As Cyber Monday, is around the corner brace yourself with your wish list and so shopping within the comfortable of your own house.