Posted in Marketing and Strategy Terms, Total Reads: 108
Definition: Cyber Monday
Cyber Monday is a concept created by ecommerce companies of United States to promote online sales. The next Monday after Thanksgiving holiday is termed as Cyber Monday. Ellen Davis observed that maximum sales occurred in last week of November in 2004 and started to call Monday after thanksgiving holidays as Cyber Monday. Cyber Monday came into existence on November 28, 2005 and saw a huge surge of online sale on that day. Since then every year Monday in last week of November is known as Cyber Monday.
Cyber Monday is similar to Black Friday but varies in type of products sold. Cyber Monday is famous for fashion sale on online stores while Black Friday has been famous for sales of electronics products. Cyber Monday is followed in various other countries since its inception in United States.
India also observed Cyber Monday in 2012 when Great Online Shopping festival was launched by ecommerce companies like Flipkart, Snapdeal etc together with collaboration of Google India. Cyber Monday has proven to be a boon for ecommerce fashion websites and has seen more than 25% growth in sales year on year.