Cyber Monday 2024: Check History, Importance and Cultural Impact

Cyber Monday takes place on the Monday of the week following Thanksgiving in America. This year, the event will fall on December 2, 2024. Cyber Monday is the biggest sale day online, and people get various offers and discounts from companies after the Thanksgiving weekend.

History of Cyber Monday

The term was first coined in 2005 by Shop.org under the National Retail Federation (NRF) to promote a culture of online shopping during holiday seasons. The idea came into place as most customers preferred to order online after experiencing the overcrowding of the stores on the day after Thanksgiving, popularly known as Black Friday. It initially targeted the trend that most shoppers return to work during the holiday weekend, where they will be able to access a faster internet connection to browse and make their purchases comfortably from their desks.

Importance of Cyber Monday

Cyber Monday has become a global shopping phenomenon that has had a profound impact on retail sales. It is an important day for online retailers to drive up sales volumes during the holiday season. In recent years, it has even surpassed Black Friday in terms of online sales volume, especially as e-commerce has gained momentum because of shifts in consumer behaviour and the adoption of new technologies.

The event is characterized by steep discounts on a wide range of products, especially electronics, fashion items, and home goods. In India, notable discounts include the Samsung Galaxy S23 Ultra at ₹72,999 and the Sony PS5 Slim Digital Edition at ₹37,490. These deals reflect a growing trend of Cyber Monday sales expanding beyond traditional Western markets.

Cultural Impact

Cyber Monday is a reflection of broader cultural trends toward digital shopping and consumer convenience. It has become synonymous with the holiday shopping season and is now recognized not only in the U.S. but also in various countries worldwide that have adopted similar shopping days. The event promotes a culture of consumerism but also encourages retailers to innovate in their marketing strategies and enhance customer experiences through online platforms.

As Cyber Monday approaches 2024, it remains a peak moment on the retail calendar, one that exemplifies how consumer spending has become more oriented toward online purchases. Retailers are also expected to take advantage of this day with massive promotion deals, which would make part of the holiday shopping customs around the world.

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