AUGUSTA, Ga. (WJBF) – The Monday after Thanksgiving is known as ‘Cyber Monday,’ and analysts at Adobe Digital Insights are predicting that this one will be the largest online shopping day in history, with shoppers expected to spend $3.36 billion online Monday.
The marketing term ‘Cyber Monday’ was coined back in 2005, when the National Retail Federation sent out a press release saying that 77 percent of online retailers said their sales increased significantly on the Monday after Thanksgiving. Why were they so much higher after the holiday weekend? The reason is simple: back then, most people only had high-speed internet at work.
“I think it goes back to something that Amazon and eBay and a lot of the big box retailers, or big box cyber retailers, were doing a few years back where they were trying to continue the sales,” said Parker Rhodes, who manages digital marketing for Rivers and Glen Trading Co. in Augusta.
The effect has trickled down to smaller businesses like Rivers and Glen.
“Online you’re open 24/7/365,” Rhodes said. “That’s huge because a shopper can jump on the internet at 12:01 when a sale starts to happen on Black Friday or Cyber Monday.”
As internet use has increased, so have Cyber Monday sales, which have grown nearly 17 percent since the movement started. Traditionally brick and mortar stores are taking advantage of the web to reach a broader customer base.
“We sold one of these hats to somebody out in Denver last week, so it’s kind of cool,” Rhodes said.
Since internet access has grown, the need to shop online during the weekdays has decreased, but because online sales are still promoted for Cyber Monday, spending on the holiday still expected to grow.
“We decided to combine Black Friday and Small Business Saturday, Sunday as well, into the Cyber Monday,” Rhodes said. “And all for these days, we’re running the 10 percent off store-wide.”
Adobe Digital Insights found that last year, Cyber Monday sales grew more quickly than those on Thanksgiving holiday weekend.