What is Cyber Monday?
Cyber Monday is the first Monday after Thanksgiving in the United States or the Monday immediately after Black Friday. Black Friday generally kicks off the traditional American Christmas shopping season, with consumers rushing to local stores to purchase goods at greatly discounted prices. On Cyber Monday, that trend tends to move online while consumers shop at work and at home to find the best online deals offered by merchants and offered for that day only. Cyber Monday is a big shopping day for online retailers and follows Black Friday, the top shopping day of the year for stationary retail.
Although Black Friday is the busiest day of the year for sales in many brick and mortar stores, the number of online transactions on this day is also increasing. Cyber Monday's popularity and potential profitability is one of the reasons brick and mortar stores have opened up electronic store fronts. To capitalize on the number of people shopping online that day, electronic merchants are also making available coupon codes that are heavily available for Cyber Monday sales.
Cyber Monday sales reached a record $ 1 billion in 2010, up 16 percent year over year, according to comScore. It should be noted, however, that couponing activity and discounts also increased sharply in 2010, which likely contributed to some increase.
The term Cyber Monday was first coined by Shop.org in 2005. It's a relatively new phenomenon, at least when compared to its older Black Friday counterpart.