Cyber Monday is rapidly approaching and the online retailers are preparing themselves for what they hope will be lucrative holiday season.
The term Cyber Monday refers to the first Monday after Thanksgiving. The term will be only a year old this holiday season.
The term cyber Monday originates from the National Retail Federation’s Shop.org division.
The analogy would be a comparison to Black Friday the first Friday after Thanksgiving. A big shopping day for the brick and mortar stores.
The concept for the term comes from research in 2004 from Shop.org They found that 77% of online retailers reported an increase in sales following Black Friday.
Take a guess where most of this online shopping is done? The workplace according to a Shop.org/BizRate Research 2005 eHoliday survey.
Sounds like a manager’s nightmare.
According to last years survey more than half of young adults the ages 18 to 24 and almost half of those aged 25 to 34 planned to shop online during work hours.
The most popular items last year were jewelry, consumer electronics, gourmet food, furniture and home décor.
The peak days for online shopping are from December 5 to the 15. The 2005 busiest day for ecommerce was December 12. Cyber Monday seems to mark the beginning of the busy online shopping season.
While the term Cyber Monday was conceived by the folks at Shop.org including Scott Silverman Executive Director it is not in fact the busiest online shopping day of the year.
The term was created to generate excitement for online retailers.
So what will you be doing on this year Cyber Monday? Scouring online sites to look for holiday bargains while on company time or actually performing your job duties?