Valdosta Daily Times

Business

November 25, 2012

Gear up for Cyber Monday

VALDOSTA — As with everything else in the world, Black Friday is quickly being replaced with a more evolved, technology-based successor otherwise known as Cyber Monday.

The term “Cyber Monday” was coined in 2005 by a marketing team at Shop.org, a division of the National Retail Federation. The idea was to provide online retailers with a catchy hook to match the shopping frenzy fueled by Black Friday.

Now seven years later, the Monday after Black Friday is known to nearly all as Cyber Monday — which falls on Monday, Nov. 26, this year — and has evolved into a staple of the holiday shopping season that is now starting to outcompete Black Friday.

In 2011, the Monday after Thanksgiving was the highest-grossing online shopping day in United States history, with spending reaching $1.25 billion, according to the market research firm comScore.

The aggressive efforts of discounting by many online retailers, including Amazon.com and Apple, paid off with a 26 percent jump in spending over 2010 spending and outpaced Black Friday by a healthy margin, according to CNN.

Cyber Monday this year is expected to reach $2 billion, a staggering growth of 18 percent since 2011, according to a 2012 forecast by Adobe Systems Inc. based on a marketing cloud analysis of more than 150 billion online visits to retail websites.

In the same study, experts also expect that purchasing activity from mobile devices will increase by 110 percent over last year, making up 21 percent of total online sales this holiday season.

To meet the demands of online customers, retailers have started hosting web-based Black Friday sales; however, it is expected to still be the second largest online sales day next to Cyber Monday.

Here are some of the top online retailers offering Cyber Monday deals:

— With the slogan “Save the date. Save money,” Target is gearing up to offer a plethora of online deals.

— As expected, Overstock.com has been prepping all year for Cyber Monday, according to its website, and even displays a countdown to Cyber Monday on its website down to the seconds.

— Cyber Monday this year is expected to reach $2 billion, a staggering growth of 18 percent since 2011.

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