Cyber Monday, a concept that’s been around for more than a decade, began as many say, when workers came back to work after the Thanksgiving holiday and used their offices' high-speed Internet connection to shop.
Now, of course, high-speed Internet connections are par for the course for many, if not most, consumers.
So with this wide Internet accessibility, many are asking: Is Cyber Monday still a thing for retailers or consumers?
Yes
Along with the continuing rise of e-commerce in general, Cyber Monday will see increased sales yet again this year, according to research from IBISWorld. The analysis firm is predicting that revenue on Cyber Monday will increase 15% over last year.
Black Friday remains the king of holiday shopping days, at least for now. But Cyber Monday has its place, and it’s growing. Each year since 2006, Cyber Monday sales have risen every year, with 2009, that bleak recession year, the only time Cyber Monday hasn't seen more than a 15% increase.
No
There’s actually plenty of data to suggest that Cyber Monday isn’t that big of a sales day for e-commerce. ComScore has found that Cyber Monday is more likely the seventh to ninth biggest e-sales day, and that in a better economy it could move even farther down the list.
And some say that the shopping day isn’t the best day to find the lowest prices or the best deals of the season, either. New research from Adobe found that Thanksgiving and even brick-and-mortar’s favorite, Black Friday, trumps Cyber Monday for consumer deals. And a just-released GOBankingRates study found that Cyber Monday deals are so “unimpressive” that the day doesn’t even deserve its own name.
"Cyber Monday discounts are just too unimpressive to warrant the commotion of a big retail holiday," said Jennifer Calonia, GOBankingRates' editorial manager and the report’s author, in a statement.
"Even retailers aren't banking too hard on the day, as they'll be focused entirely on hyping Black Friday," Calonia continues. "The only thing Cyber Monday has going for it is 'FOMO.' [‘Fear of missing out.’] Shoppers will feel pressured to 'buy it now' – even though stores will inevitably lower their prices on the most popular items as Christmas approaches."
Maybe
Consumers may be wising up to the fact that the best deals aren’t always to be had on Cyber Monday. But more likely, the day could have less of an impact because retailers have spread the joy of discounts across the entire length of the Thanksgiving weekend — and this year, even earlier. That could be draining some of the one-time-only allure these special days used to have.
Still, with many retailers keeping their Cyber Monday deals secret, consumers can have a little bit of fun. And now with the help of lists and apps, retailers will likely profit from that attention.
And while Cyber Monday used to be the day for e-retailers, the growth of many traditional retailers' e-commerce and omnichannel efforts means the day could be a contributor to both brick-and-mortar and online retailers.
Indeed the International Council of Shopping Centers recently found that Cyber Monday will drive more than a third (36%) of shoppers to physical stores.
And that means retailers, physical or online, need to be ready for Cyber Monday.
