On the 28th of November 2005, Shop.org published a press release titled ‘Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year.’ The press release and the Cyber Monday tradition itself were intended to encourage customers to shop online.
Luckily for eCommerce retailers, it worked, and the rest was history. As stated by Shop.org’s eHoliday Mood Study, in 2005,
‘77% of online retailers said that their sales increased substantially on the Monday after Thanksgiving.’
Since its inception, on a press release headline, the popularity of Cyber Monday has continued to grow at an alarming rate. In 2017, Cyber Monday online sales in the US skyrocketed to a record $6.59 billion – blowing 2015’s $2.98 billion and 2014’s $2.65 billion out of the water.
Now we are fast approaching that time of the year again. Black Friday and Cyber Monday are on the horizon. Many online prices will be hitting an all-time low, and eCommerce retailers like Amazon will be gearing up to release their best deals.
Here at Formation, we’ve created the ultimate game plan for Cyber Monday 2019, supplying you with tips and insights that will help you to get the most out of this year’s sales and deals.
Without further or do, here is everything you need to know about the sale event.
Frequently Asked Questions (FAQs)
“What is Cyber Monday?”
It is a sale event where nearly every online store will feature exclusive deals and promotions.
“When is Cyber Monday 2019?”
Cyber Monday 2019 will fall on the 2nd of December, the Monday after American Thanksgiving.
Nevertheless, you can expect deals, ads and promotions to begin way before the 2nd, and to carry on well throughout the first weeks of December. So be on the lookout!
“Is Cyber Monday in stores, too?”
You’re not likely to find deals in many walk-in stores; most retailers will exclusively offer website-only deals. If you’d prefer to shop in-store, you should join in the Black Friday party.
“Cyber Monday vs Black Friday: what’s the difference?”
There’s not a lot of difference between the two. Think of Cyber Monday as the online equivalent of Black Friday.
Black Friday will suit you better if you have a higher budget, and you want to buy new, expensive items. Plus, Black Friday is the ideal time for you to shop in-store.
On the other hand, Cyber Monday will tailor more to your needs if you have a lower budget and are looking to buy gadgets and small gifts. Furthermore, Cyber Monday will save you the hassle of waiting in long lines and battling crowds of shoppers, early in the morning. So, you may appreciate Cyber Monday if you’re not a patient early bird.
“Will Cyber Monday deals be better?”
When it comes to savings, Cyber Monday wins the battle over Black Friday. Research carried out by coupon company Honey showed that on last year’s Cyber Monday, average savings (per purchase) peaked at 21%, while Black Friday savings only peaked at 18.5%.
Though, here’s the bottom line: whether Black Friday or Cyber Monday is the better choice for you ultimately depends on what it is you want to buy.
“What sites do Cyber Monday/Where can I find the best Cyber Monday deals?”
Name any online retailer you can think of; chances are, they will be offering Cyber Monday deals.
To name a few, the list of participants includes:
- Curry’s PC World
- John Lewis
And many more! Below, we’ve broken down a few practical tips for you so that you can maximise your savings in this year’s sales:
How to prepare for the sales:
Subscribe to retailer newsletters:
Go on to the online retail website you want to shop on and sign up to their email newsletter (granted, they have one). You’ll likely be one of the first to know about sales, discounts, promotions and latest offers. Some retailers also offer subscriber-exclusive coupons.
Alternatively, if the online retailer doesn’t have an email newsletter, you could always follow their posts on their forums, Facebook or Twitter; many retailers who have cyber deals tend to post them up early on their social media platforms.
Create a list of what you want to buy:
You know the saying, “By failing to prepare, you are preparing to fail?” That applies to Cyber Monday, too. Way before you dive into the online shopping, you should already have a clear list of the products you want to buy.
Form yourself a game plan well in advance. Research the products closely before you press the trigger for the purchase; so that you fully know what you are buying. A cheap price tag can make any lousy product look decent.
Before you buy a product, you should always read its trusted product reviews, so you can ensure you are receiving the best value for your money.
You can find a list of top-notch product review websites here.
Always compare all the prices so that you can find the best deals:
Do not press the ‘pay’ button until you are entirely positive that the price you are paying is the best you can get. Finding the quality value for your money can be a hassle. Luckily, we have price comparison websites to help us with that. You can find a list of the top price comparison websites on Shopify, here.
Be Cyber Secure:
On the run-up to Cyber Week, you can expect cybercriminals to spam search engine results with malicious and deceptive links. With millions of online customers shopping throughout late November to early December, Cyber Monday is a prime time for hackers and cyber thieves who are looking to steal personal information.
As a safety measure, you could consider installing a Virtual Private Network (VPN) for your computer or smartphone. A VPN will create a secure, encrypted connection for you while you shop, keeping your data safe from nearby hackers.
For a through-and-through guide on how to shop safely online, refer to here.
Always follow a budget plan:
Top Tip: Be wise with your money!
You know what you can and can’t afford; it is up to you to set up a sensible budget that you can follow. The last thing you want to do is land yourself in debt. One good rule to follow is the 50/20/30 budget rule:
- You should set aside 50% of your income for living expenses and essentials
- Set aside 20% of your income for financial milestones; for example, savings and debt payments.
- Set aside the last 30% of your income for flexible spending. Save the last 30% as part of your Cyber Monday spending budget.
For more tips on how to shop safely and wisely in the sales, check out our latest article.
Here at Formation Media, we are in the business of helping businesses grow. To find out more about what we do, feel free to contact us today!