Consumers in the United States spent more money online in one day, this past Monday, than they spent in any other one day in history. Online browsing and shopping resulted in $1.25 billion in sales on Cyber Monday, up 22 percent from the previous one-day record, last year’s Cyber Monday. The $1.25 billion in sales on Cyber Monday reflects the fact that more people shopped online than last year, up 11 percent, and the average shopper spent more money than last Cyber Monday, an increase of 9 percent.
When Cyber Monday was invented in 2005 by shop.org, the National Retail Foundation’s e-commerce division, it was based on the theory that more people had broadband internet access in their workplaces and would wait until sitting at their desks in their offices before shopping online after the holiday weekend.
At the time, Cyber Monday was not an event and there was no indication that the Monday following Thanksgiving was anything special in terms of online shopping activity. Retailers, however, bought into the idea and started creating marketing campaigns that encouraged people to shop on Monday.
Consumers simply followed the deals and succumbed to the hype surrounding yet another day dedicated to shopping, created by the organization that represents retailers, who obviously stand to benefit from more consumer shopping. More consumers neglected their work in the office this year to spend time browsing and shopping online than any Cyber Monday in the past, with more than half of all shoppers spending money from work.
Cyber Monday was not even the biggest day for online shopping until last year. This new holiday is an interesting story about how you can make anything you want real with enough marketing.
I’m just starting to organize my holiday shopping list. I’ve purchased a few items already but didn’t make any extra effort to shop on Monday. How much did you spend on this year’s Cyber Monday?
Published or updated November 30, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.