This year’s Cyber Monday is on track to break records with an estimated $11.2 billion in spending. This is up from last year’s $10.8 billion and would mark the most crucial online spending day.
About half of all Americans are expected to participate in Cyber Monday this year, with the average person spending $161.91, up from last year’s $146.45.
As more and more people shop online, Cyber Monday has become one of the year’s biggest shopping days. This year’s event will surely be bigger and better than ever, so take advantage of all the great deals!
Cyber Monday is a day when people go online to buy things. The blog will look at how the day has evolved and what it means for consumers and retailers.
What is Cyber Monday?
Cyber Monday is the Monday after Thanksgiving in the United States. Many retailers offer discounts on their products, and shoppers take advantage of these deals to save money on holiday shopping.
It is seen as the online equivalent of Black Friday, the most active shopping day of the year.
So, if you’re looking for great deals this holiday season, keep an eye out for Cyber Monday.
How does Cyber Monday work?
Cyber Monday sales’ mainstay is dealt with only during this specific day. However, many stores offer free shipping on all orders over $50 (US) and free returns within 14 days.* Additionally, some stores offer special discounts or bonuses on products already discounted earlier in the week. All these extra incentives help make Cyber Monday one of the most oversized shopping weekends of the year!
Black Friday vs Cyber Monday
At first glance, Black Friday and Cyber Monday may seem similar, and they both take place the day after Thanksgiving and feature huge sales across stores. But few critical differences between them make one better than the other.
First, Black Friday is much more traditional than Cyber Monday. It’s rooted in American culture and history, as it was initially designed to help retailers prepare for Christmas by bringing in extra revenue early on.
It began as a way for online retailers to compete with brick-and-mortar stores during the peak holiday season (when customers were already buying many gifts). Today, Cyber Monday has primarily become an event where consumers can save money on items they would have otherwise purchased online (without leaving their homes!). Overall, cyber shopping wins this round compared to black Friday.
The 5 Most Surprising Cyber Monday Statistics You Need to Know
1. Cyber Monday sales reached around $10.8 billion in 2021, and 97 million shoppers participated.
2. The average online customer spends $177 on Cyber Monday, while the average in-store customer spends $51.
3. Black Friday and Cyber Monday together account for 91% of all eCommerce sales during the holiday season, with 48% occurring on Black Friday and 43% on Cyber Monday.
4. Global growth: In 2021, international sales reached $5.9 billion, up from $5 billion in 2020
Few 2022 Survey Predictions for Cyber Monday Sales
Cyber Monday 2022 is set to break records with $11.2 billion in spending, up 3.7% from last year’s numbers.
A survey revealed that 64% of US consumers would shop on Cyber Monday in 2022. Plenty of deals are available, and it’s time to start looking!
You can expect to see more female than male shoppers. 69% of females plan to shop this Cyber Monday, against 58% of males.
According to some reports, 80% of Cyber Monday shoppers plan to shop on Amazon. The average discount is expected to be around 32% this year.
Here are Four Recommendations to Help you Make the Most of Cyber Monday This Year.
1. Research your favourite online stores and plan which items to buy early in the week.
2. Use special codes or discounts available only this weekend to boost your shopping cart before clicking the “buy” button.
3. Prepare yourself mentally by making a list of what you require and marking down approximate prices so there are no surprises on Cyber Monday morning.
4 Set some money aside each month in anticipation of Cyber month spending sprees –
Not all purchases must be made during this specific period! Some great things to invest in include home appliances, groceries, etc., as long as they last until next month’s big sale arrives (usually late January)
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How to Save Money on Cyber Monday
Cyber Monday is considered one of the most incredible shopping days of the year. Retailers expect millions of shoppers to hit their stores on Black Friday and Cyber Monday combined!
To save money on your shopping this holiday season, follow these tips:
– Dive into online deals early. Many brands offer deep discounts online before Black Friday and Cyber Monday start. Check out coupon websites like clipping coupons or Humble Bundle’s Coupon Database for exclusive offers from top retailers.
– Search for sales in specific categories. Some items – namely electronics – sell at lower prices during Cyber Week than at other times. Try looking for sales on TVs, laptops, tablets, cameras, and home furniture.
– Shop in bulk when possible. You can shave off significant dollars from your total bill by buying large quantities (up to 25 units) at a discount. This applies to physical goods and digital downloads.
Conclusion
So, are you ready for a new era of shopping? The sales are about to start, and many incredible deals await you.
However, just like any other day, you must secure your financial information. So, use the best online security tools to protect yourself from fraudsters!
Have questions? I will try to answer them in the comment box below. We hope you enjoyed reading our blog.
