The holiday season is upon us! One part of the holiday season is Thanksgiving, Black Friday, and Cyber Monday. As technology advances, so do ways that people go about their day to day lives. More and more shoppers are choosing to shop online instead of in store. That means it should come as no surprise that Black Friday (a shopping holiday known for great deals) essentially bled over into Cyber Monday. A lot of people don’t truly know what Cyber Monday is (even in 2023!) or how they can benefit. Hopefully, this article can shine some light on this surprisingly beneficial shopping holiday.

What is Cyber Monday?

When people talk about Cyber Monday, they are referring to an e-commerce term! This term describes the Monday after Thanksgiving weekend where retailers have special deals online which includes hefty discounts and sales. The creation of this holiday comes from retailers encouraging consumers to do their shopping online. This is a popular time for shoppers! In fact, billions were spent through online spending on Cyber Monday just last year. While originally this was created in the United States, companies all across the world have started using the term to promote sales.

How to Make the Most Out of Cyber Monday

There are some tips that can help you make the most out of this retail holiday. On Cyber Monday, a shopper can expect to save a good amount of money. In fact, some items can be marked down by 40% or even 80%! It just depends on the store and the item. However, through proper planning, you can try to make sure this percentage is as high as possible for your shopping trip! Some of these tips include:

• Prepare for the day
• Go shopping at the right time
• Make your purchases with a specific card

Prepare for the Day

When it comes to getting ready for Cyber Monday, you will want to do a few things. This includes:

• Setting a budget for yourself
• Thinking about what items you plan on buying
• Knowing which stores you want to check out

Setting a Budget for Yourself

No matter what you are doing when it comes to shopping, a budget is key. That’s because it helps you stay on track so that you do not negatively impact your overall financial situation. The amount of money that you should plan for depends on your finances. However, if you follow the 50/30/20 rule, that means 30% of your money can go on wants. If you make $3,000 a month then you have $900 for the month to spend on wants.

Thinking About What Items You Plan on Buying

Sometimes you may be going shopping on Cyber Monday with no specific items in mind. If so, that’s fine! Just make sure you stick to your budget. However, if you know there are specific items you need then you will want to get a plan together so you can shop accordingly! If you need to buy men’s socks you will likely have a hard time at a makeup store.

Knowing Which Stores You Want to Check Out

You will want to keep note of which retailers you plan on shopping at. You can bookmark them so you can easily access them when the time comes. This makes it less frantic on the day that you plan on shopping!

Go Shopping at the Right Time

The peak buying hour on Cyber Monday (at least for 2022) was between 8 PM and 9 PM. Luckily, a majority of Cyber Monday Deals are available for 24 hours. However, you run the risk of items selling out the longer you wait. So you should be aware of the pros and cons of deciding when to shop.

Make Your Purchases with a Specific Card

When buying items on Cyber Monday, you may be able to benefit when you use a specific card. For example, some credit cards have cash back for a percentage (like 1.5%, 2%, etc.). That means on any purchases you will get some money back! The exact amount and terms will vary depending on the card. However, you should see what cards you may be able to qualify for or see if your existing cards have any perks or promotions like cash back.

The Origins of Cyber Monday

The term itself was coined in 2005. This was done by Shop.org. This website is an online branch of the National Retail Federation (NRF). The NRF made note that shopping online activity usually spiked on the Monday after Thanksgiving historically. There were a few thoughts as to why that happened. Some ideas included:

• Timing
• Personal Experiences

Timing

One thought for this spike is that people were able to see items they wanted over the weekend. However, they had to wait until stores opened up to actually get them. Instead of dealing with the store opening and having everyone go at once, it was just easier to do it online with computers

Personal Experiences

A different thought to the spike is the personal experiences that people had over the holiday weekend. If they dealt with some bad times like family drama or anything else, they may want to turn to retail therapy. It can be more relaxing to do online shopping to decompress from stress instead of dealing with the hassle of going in.

What Happened After the Official Name?

Once the term was coined, there was a huge impact on consumer spending. For context, sales were $484 million in 2005 for Cyber Monday. However, by the time 2010 came around, sales were $1 billion! That was over 10 years ago! So imagine how much more people are spending nowadays.

Who Has a Cyber Monday Deals?

Historically, there have been plenty of retailers that have some sort of Cyber Monday deal. Some common stores include the following:

• Amazon
• Apple
• Best Buy
• Costco
• eBay
• Home Depot
• Instacart
• Target
• Walmart

Where Else in The World is There Cyber Monday?

we said above, there are other companies across the world that use the term Cyber Monday. In fact there are roughly 28 countries that use the term. These countries include:

• United Kingdom
• Germany
• Spain
• Italy
• Netherlands
• Sweden
• Denmark

Bottom Line

If you are planning on doing some shopping this holiday season, you should consider buying items on Cyber Monday. This e-commerce term refers to the day where retailers run sales to encourage consumer spending. In order to prepare for Cyber Monday you should:

• Set a budget for yourself
• Think about what items you plan on buying
• Know which stores you want to check out
• Go shopping at the right time
• Make your purchases with a specific card

This holiday, make sure to try and benefit from some savings opportunities! It can make gift giving just a bit easier to manage.