Cyber Monday 2006
We all know about “Black Friday“, the day after Thanksgiving when people get trampled to death at 3 am trying to purchase “tickle me elmo” for $5 cheaper than normal. I’m sure we all feel the affects in our wallets, but so do the businesses. It was coined “Black Friday” because that is when the businesses pull themselves out of the red and bring their business in the positive. Between camping out in the cold all night and developing a never known form of claustrophobia, I don’t think I can handle it anymore personally. More an more people seem to be opting out of “Black Friday” and getting involved in what is now coined as “Cyber Monday“.
The Monday after Thanksgiving was officially given the name “Cyber Monday” in 2005. Many businesses market online only deals and free shipping. It is not necessarily the biggest online shopping day of the year, but it usually starts it. The estimate that the busiest day over all is usually around the 12th of December. That is stretching making sure your packages get delivered before the big day.
With more and more people trusting the internet and purchasing things on the internet, why shouldn’t sales go up. Well they are. They are going up a lot. In 2005 PayPal recorded that they had processed $61 million on “Black Friday” and on “Cyber Monday” they ended up processing around $94 million. That was last year. I haven’t seen the numbers for PayPal this year quite yet, but they are not the only ones reporting these types of numbers.
A lot of people thing “Cyber Monday” doesn’t exist. These are the same people that think the world is flat. They must not be in touch with reality because it is here to stay.
Visa reported that from 2004 to 2005 sales were up 24%. Online sales between Thursday to Sunday pulled in around $925 million. They also said sales were up 26% on Monday to $505 million. In 2006 the increase ended up being very similar. Comscore reported that the from the first of November to the 27th of November, sales had gone up 24% and on “Cyber Monday” it had gone up 26%.
November 1 - 27
2005 - $7643 Million
2006 - $9484 Million
Increase of 24%
Cyber Monday
2005 - $484 Million
2006 - $608 Million
Increase of 26%
It was said that eBay, Amazon, and Walmart.com were the most shopped sites during “Cyber Monday“. So if you weren’t a part of “Cyber Monday” this year, remember to plan ahead and be prepared next year.