Since the true beginning of “Black Friday” in the 90’s and the widespread success of the event in the 2000’s, it’s no secret that post-Thanksgiving shopping has become, from a retailer perspective, more of a marketing event than just opening their doors for business like any other day. With the media coverage, the anticipation of advertisement releases to see dramatic “doorbuster” deals, and lines around the corner clearly it’s the biggest chance each year that retailers have to place themselves in front of consumers not only for the day but also for the remainder of the holiday season. Seeing as 66% of Black Friday shoppers shop for themselves there certainly is an opportunity for these shoppers to keep stores they visit on Black Friday in mind as December approaches.
However, between Thanksgiving travel and well, a lack of interest by some in pitching tents or waiting in line for hours hoping to get one of the aforementioned “doorbuster” deals, the phenomenon now known as “Cyber Monday” has emerged. As Black Friday began to take off in the early 2000’s, eCommerce professional noticed an increased in sales on the Monday following Black Friday. Dubbed “Cyber Monday” by Shop.org, the term stuck and so did the territory that came along with it.
Since the unofficial creation of Cyber Monday five years ago, the popularity of the event has grown exponentially. According to research from comScore the ascent of Cyber Monday sales over the past 5 years has been staggering….
- 2005 – $484 Million
- 2006 – $608 Million
- 2007 – $733 Million
- 2008 – $846 Million
- 2009 – $887 Million
So by now I’m sure you’re asking – what’s in store for Cyber Monday 2010? Well if the analyst forecasts are correct the upward trend in Cyber Monday sales should continue. Forrester has predicted eCommerce sales during the holiday season to increase by 16% compared to 2009 while comScore predicted a more modest (but still substantial) growth of approximately 8%. With the NRF predicting a 2.3% increase in total holiday retail sales and with many of the “doorbuster” deals also being offered online this may be the year to skip the Black Friday lines and give Cyber Monday a try… that is if you haven’t already!
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